Private Job Growth <br />in December, Shatters Expectations.<br />Data released by <br />payroll processing company ADP <br />revealed an 807,000 increase <br />in private jobs for the month.<br />The number is more than double what economists had predicted.<br />Wall Street had anticipated an increase of around 375,000 jobs for December.<br />The 807,000 jobs also shattered the increase that occurred during November.<br />During that month, the economy added at least 534,000 jobs.<br />The leisure and hospitality industry experienced the greatest increase, adding more than 245,000 jobs to the U.S. economy.<br />Following leisure and hospitality, .<br />the trade, transportation and utilities industries added close to 138,000 jobs.<br />The education and health service industries added 85,000 jobs.<br />Despite the extraordinary growth, .<br />economists' reactions were tepid in light of record-breaking COVID infections due to the Omicron and Delta variants.<br />December’s job market strengthened as the fallout from the Delta variant faded and Omicron’s impact had yet to <br />be seen. , Nela Richardson, ADP’s Chief Economist, <br />via CNBC.<br />Job gains were broad-based, as goods producers added the strongest reading of the year, while service providers dominated growth, Nela Richardson, ADP’s Chief Economist, <br />via CNBC.<br />Total employment remains millions of jobs below pre-pandemic levels.<br />The Bureau of Labor Statistics will release its own data on Jan. 7.<br />The data is expected to reveal at least 442,000 non-farm payroll jobs added to the economy
