Today’s ADP report said private sector jobs grew by 325,000 in the month of December. This was way above estimates which were expecting gains of 160,000.
December’s gains show a continuing trend of an improving labor force. In october, they put new jobs at 130,000. And in November at 204,000 (revised).
Many investors consider the ADP report to be a sneak peak at what the Employment Situation Report will officially say in regard to new jobs. And while the Bureau of Labor Statistics has been confirming the growth in jobs, their numbers have been lower than ADP’s forecasts in recent months, coming in with 117,000 private sector jobs in October and 140,000 in Novemebr.
But if today’s outsized beat by ADP is a prelude to what’s to come tomorrow, we could see a much stronger than expected Employment report come Friday morning.
Fingers crossed.
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