US Labor Data Surprise as Job Market Runs Hotter Than Forecast

Companies added 235,000 jobs in December, ADP data show
Initial and continuing jobless claims fell in latest report

Hiring to Slow But No Wave of Layoffs: Morgan Stanley

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Reade Pickert

January 5, 2023 at 2:02 PM UTC

Updated on

January 5, 2023 at 2:32 PM UTC

This article is for subscribers only.

Hiring at US companies far exceeded expectations and applications for jobless benefits fell to a three-month low, reinforcing the strength of the labor market, new data showed Thursday.

Private payrolls increased 235,000 last month, led by small- and medium-sized businesses, according to data from ADP Research Institute in collaboration with Stanford Digital Economy Lab. The figure exceeded all but one forecast in a Bloomberg survey of economists.