ADP Says 297,000 Jobs Created in December

According to payroll services firm ADP, the US economy created 297,000 jobs in December. A Labor Department report in two days is expected to show companies added 150,000 workers last month and the unemployment rate eased to 9.7 percent, according to the Bloomberg survey median.

“Firms are becoming more confident in the expansion, and hiring is improving as a result,” Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts, said before the report. “Growth is becoming more balanced.”

Source: Bloomberg

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