December 2012 ADP Jobs Up 215,000, Best Since February 2012

Written by Steven Hansen ADP reported December 2012 non-farm private jobs growth at 118,000. The market expected 140K to 150K (versus the 215K reported). These numbers are all seasonally adjusted. This month, ADP's analysis is that small and medium sized business created the majority of the jobs. Manufacturing remains the headwind to employment gains trade / transport / utilities sectors provided almost 1/4 of the employment increase. This was the largest monthly job growth since February 2012. ADP had been the best real time indicator of jobs growth, and we are monitoring their current new methodology which began with their October 2012 report. Jobs growth has been over economic potential until recently - and now jobs growth is near potential.   Read more »