Companies in the private sector added 122,000 jobs in December, payroll processing firm ADP said on Wednesday.

The figure is below economists’ estimates of 140,000 jobs and lower than the prior month’s reading of 146,000.

"The labor market downshifted to a more modest pace of growth in the final month of 2024, with a slowdown in both hiring and pay gains," said Nela Richardson, ADP's chief economist. "Health care stood out in the second half of the year, creating more jobs than any other sector."

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Companies in the private sector added 122,000 jobs in December, payroll processing firm ADP said on Wednesday. The figure is below economists’ estimates of 140,000 jobs.{ai:summary}<p>In December, private sector companies added 122,000 jobs, falling short of the expected 140,000 and down from 146,000 in November, according to ADP. Chief economist Nela Richardson noted a slowdown in hiring and pay gains, with health care leading job creation in the latter half of the year. #economy</p>

Private sector adds 122,000 jobs in December, below expectations, ADP says

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