The growth of private payroll saw a strong upward trend as the year 2019 came to a close with the companies adding as many as 202,000 positions in the month of December giving another sign that the labor market is presently very healthy as per a report which had come from various analysts on this Wednesday.
The total had been above the level of 150,000 estimate of the consensus from the economists who had been surveyed and has set the stage for the official count which is going to be released this Friday. The economists are expecting the development of labor tally to see a gain of 160,000.
In addition to the growth which was solid in the month of November, ADP had revised their count for the month of November which stood initially at 67,000 to a level of 124,000.
A few economists though feel that despite the beat being big in the month of December, the market of jobs is till moderate.
They say that the small companies, energy producers and the manufacturers are currently shedding the jobs with the unemployment being low but is likely to see a rise in case the growth of jobs slows down any more.
The gains of jobs in one month had been spread all across the sectors with the construction seeing an addition of 37,000 which is the best gain in a month since April last year and a reversal of the reports initially of a loss in the month of November at 5,600.
Leisure and Hospitality though are the sectors which have been losing positions even though they had been among the biggest winners earlier in the last decade.