Private sector employment in the United States increased by 122,000 jobs in December, marking a second consecutive month of fewer new positions. This figure is down from the 146,000 jobs added in November, according to the ADP National Employment Report.
The report indicated that salary gains also lost steam during December, with job-stayers experiencing the slimmest pay rises in nearly three and a half years. This suggests a loosening of the tight labor market observed in previous periods.
The services industry accounted for the majority of new jobs, led by education and health services, and leisure and hospitality. In contrast, the manufacturing industry shed jobs for the third consecutive month, highlighting ongoing challenges in that sector.
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