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The private sector added payrolls at a faster-than-expected pace in December, highlighting the resilient U.S. labor market.

Private payrolls in the U.S. increased 164,000 in December, higher than a downwardly revised 101,000 in November, ADP reported Thursday.

The leisure and hospitality sector led the increase with an addition of 59,000, followed by increases in the construction sector by 24,000 and financial services by 18,000.

The closely watched nonfarm payroll data from the U.S. Labor Department is scheduled to be released on Friday, and economists are looking for the economy to add at least 160,000, according to a survey conducted by Ticker.com, following the increase of 199,000 in November.

 


04 Jan, 2024

     

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