Forexpros – U.S. non-farm private employment increased more-than-expected in December, posting the largest monthly gain since December 2010, industry data showed on Thursday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 325,000 in December, blowing past expectations for an increase of 175,000.
The previous month’s figure was revised up to a gain of 204,000 from a previously reported increase of 206,000.
The increase in December was the largest monthly gain since last December 2010 and nearly twice the average monthly gain since May when employment decelerated sharply.
The report said employment in the service-providing sector rose by 273,000 in December, marking 24 consecutive months of employment gains.
Employment in the goods-producing sector increased by 52,000, while manufacturing employment rose by 22,000.
Employment in the construction industry increased 26,000 this month, while employment in the financial services sector declined 1,000 in December.
Following the release of the data, the U.S. dollar added to strong gains against the euro, with EUR/USD dropping 1% to trade at a 15-month low of 1.2816.
Meanwhile, U.S. stock index futures trimmed losses after the release of the data. The Dow Jones Industrial Average futures indicated a decline of 0.25%, S&P 500 futures pointed to a decrease of 0.3%, while the Nasdaq 100 futures shed 0.1%.
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