Private sector adds 297,000 jobs in December: ADP

By @ibtimes on

Private employers added 297,000 jobs in December compared with a revised gain of 92,000 in November, a report by a payrolls processor showed on Wednesday.

The November figure was originally reported as a gain of 93,000.

The median of estimates from 27 economists surveyed by Reuters for the ADP Employer Services report, jointly developed with Macroeconomic Advisers LLC, was for a rise of 100,000 private-sector jobs in December.

The ADP figures come ahead of the government's much more comprehensive labor market report on Friday, which includes both public and private sector employment.

That report is expected to show a rise in overall nonfarm payrolls of 140,000 in December, based on a Reuters poll of analysts, but a rise in private payrolls of 145,000.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.

(Reporting by Caroline Valetkevitch; Editing by Padraic Cassidy)

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