KLH49/iStock(ROSELAND, N.J.) — The number of jobs added by private employers in the U.S. grew considerably from November to December, the latest employment report from ADP shows.
According to the joint survey released by the payroll processor and Moody's Analytics on Thursday, 271,000 jobs were added last month. That’s up from the 155,000 jobs the Labor Department reported were added in November.
"We wrapped up 2018 with another month of significant growth in the labor market," Ahu Yildirmaz, the vice president and co-head of the ADP Research Institute, said in a statement. "Although there were increases in most sectors, the busy holiday season greatly impacted both trade and leisure and hospitality. Small businesses also experienced their strongest month of job growth all year."
On Friday, Americans will get a better picture of the jobs market when the Labor Department releases its monthly jobs report for December.
The unemployment rate currently stands at 3.7 percent — a 49-year low.
"Businesses continue to add aggressively to their payrolls despite the stock market slump and the trade war. Favorable December weather also helped lift the job market,” Mark Zandi, the chief economist of Moody's Analytics, said in a statement. “At the current pace of job growth, low unemployment will get even lower."
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