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Financial News: U.S. Private Sector Employment Spikes Much More Than

U.S. Private Sector Employment Spikes Much More Than Expected In December

01/05/2022 - 08:20:00 (RTTNews)

(RTTNews) - Private sector employment in the U.S. surged by much more than expected in the month of December, according to a report released by payroll processor ADP on Wednesday.

ADP said private sector employment spiked by 807,000 jobs in December after jumping by a revised 505,000 jobs in November.

Economists had expected private sector employment to increase by 400,000 jobs compared to the addition of 534,000 jobs originally reported for the previous month.

"December's job market strengthened as the fallout from the Delta variant faded and Omicron's impact had yet to be seen," said ADP chief economist Nela Richardson.

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