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ADP Employment Report Stateside Beats Expectations

Perhaps it bodes well for the national employment report on Friday, but figures released Wednesday by private firm ADP had watchers glowing.

Private businesses in the United States hired 202,000 workers during December, the most since April and well above market expectations of 160,000.

The report also says service-providing sector added 173,000 jobs, driven mostly by trade, transportation & utilities (78,000), professional & business (61,000), education & health (49,000), and financial activities (10,000). Employment in the information sector, however, fell 14,000.

Meanwhile, the goods-producing sector added 29,000 jobs, as a 37,000 increase in construction jobs was enough to offset declines in manufacturing (-7,000) and natural resources and mining employment (-1,000).