ADP report missed market expectations

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Thursday, Jan 05 2017

ADP report missed market expectations

Private sector employment increased by 153,000 jobs from November to December according to the December ADP National Employment Report. “As we exit 2016, it’s interesting to note that the private sector generated an average of 174,000 jobs per month, down from 209,000 in 2015,” said Ahu Yildirmaz, vice president and head of the ADP Research Institute. “And while job gains in December were slightly below our monthly average, the U.S. labor market has experienced unprecedented seven years of growth that has brought us to near full employment. As we enter 2017, the tightening labor market will likely slow the growth.”

Separate report on Unemployment Claims showed that in the week ending December 31, the advance figure for seasonally adjusted initial claims was 235,000, a decrease of 28,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 265,000 to 263,000. The 4-week moving average was 256,750, a decrease of 5,750 from the previous week's revised average. The previous week's average was revised down by 500 from 263,000 to 262,500.

More in this category: « Eurozone PPI increased by 0.3% Australian Trade Balance showed largest surplus since February 2014 »

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