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Economics

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
Bloomberg business news
Hiring to Slow But No Wave of Layoffs: Morgan Stanley
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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.