Saad Ullah
⬤ Recent ADP numbers show US private companies have been hiring again after a rough patch. Over the four weeks ending December 6, private employers added about 11,500 jobs per week on average. That's the third week in a row showing gains, which is a nice change from the negative numbers we saw earlier this fall.
⬤ The 11,500 weekly average is actually down from the 17,500 bump reported the week before (ending November 29). Still, it beats out the five weeks before that. All told, private businesses brought on around 46,000 workers over this recent four-week stretch. The charts show the four-week average climbing back into positive territory—basically, hiring's picking up again after slowing down.
The recent string of positive readings suggests that hiring momentum has stabilized, at least temporarily, according to market analysts tracking the data.
⬤ People watch ADP pretty closely because it gives a real-time peek at what's happening with private sector jobs. These latest numbers suggest companies have found some footing again when it comes to hiring. There's talk about this being a bit of "relief" after job creation looked shaky earlier in the year.
⬤ Employment trends basically shape where the economy's headed. When private companies keep hiring at a steady clip, people earn more and spend more, which keeps things moving. With payroll gains holding up for several weeks now, everyone's watching to see if this keeps going—and how it stacks up against the official jobs report when that drops.
Saad Ullah
