US private-sector hiring slows

[WASHINGTON] Hiring in the US private sector picked up pace in December, payroll company ADP said on Wednesday, in an encouraging sign of continued economic growth through the end of the year.

Private companies added 241,000 jobs last month, up from an upwardly revised 227,000 in November and more than analysts had expected.

The gains spread over a wide range of companies by size and type of business.

"December delivered another strong number well above 200,000 to close out a solid year of employment growth with over two and a half million jobs added," said Carlos Rodriguez, president and chief executive of ADP.

"Small businesses continued to lead the way, but mid-sized and large companies also showed solid gains." The ADP report came ahead of Friday's official monthly report on the jobs market.

"The ADP print was a relief, with some fearing it would fall below 200,000 due to oil price disruptions," said Jay Morelock of FTN Financial.

"Fears of a dismal jobs report this Friday have been assuaged, for now." Analysts expect the government to announce Friday that the economy added 245,000 jobs in December, both in the private and public sectors, and that the unemployment rate fell to 5.7 per cent from 5.8 per cent.

AFP