US companies added more jobs than expected in December
On January 4th, according to Jin10 data, American companies increased their hiring in December, indicating that there is still demand for workers despite the cooling labor market. ADP data shows that employment in the private sector increased by 164,000 people last month, with market expectations at 115,000 people. The service industry led the way, including leisure and hospitality, education and healthcare services. These numbers highlight the resilience of the job market after the COVID-19 pandemic. Despite some signs of slowing labor demand, businesses are still hiring at a healthy pace, with unemployment remaining low and employee wage growth continuing to outpace inflation levels.
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