ADP Reports 122,000 New Jobs Added in December, Below Expectations
Recent data from payroll processor ADP reveals that the private sector added only 122,000 jobs in December, falling short of economists’ expectations of 140,000. This performance shows a decline from the previous month’s Job growth of 146,000. Additionally, wage growth has slowed to 4.6 percent year-over-year, which marks the slowest increase seen since July 2021. The labor market continues to show signs of cooling, and stakeholders should watch these trends closely as they impact economic growth and workforce dynamics.
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