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December marked the largest job gains of the year, ADP report shows

Wednesday, Jan 06 2016
Private sector employment increased by 257,000 jobs from November to December according to the December ADP National Employment Report. Analysts were anticipating increase by 193,000. "2015 had a strong close with December showing the largest job gains of the year,” said Ahu Yildirmaz, VP and head of the ADP Research Institute.  
 “Overall, the average monthly employment growth was just under 200,000 for the year in contrast to almost 240,000 jobs per month in 2014.  Weakness in the energy and manufacturing sectors was mostly responsible for the drop off.” 
 
Mark Zandi, chief economist of Moody’s Analytics, said, “Strong job growth shows no signs of abating. The only industry shedding jobs is energy.  If this pace of job growth is sustained, which seems likely, the economy will be back to full employment by mid-year.  This is a significant achievement, given that the last time the economy was at full employment was nearly a decade ago.” 
 
Euro is currently being traded few points above 1.0740 level, Sterling is around 1.4630 handle, while Aussie is above 0.7070. Later today, Trade Balance data as well as FOMC Meeting Minutes are scheduled for a release.
More in this category: « Oil prices down on concerns of growth in China and a stronger USD US Trade Balance deficit fell to $42.4 billion in November »

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