Nonfarm Private Employment Growth Climbs to Seven-Month High

Total nonfarm private employment climbed by a seven-month high in December, as concerns surrounding the COVID-19 Delta variant eased.

Source: ADP

Total US nonfarm private employment grew by 807,000 in December, higher than the 505,000 in November and the -75,000 recorded in the same month last year. This is the biggest jump since May 2021’s 882,000.

The biggest increases were seen in large businesses, which accounted for 389,000, followed by medium businesses with 214,000, and small businesses, which accounted for 204,000.

Service-providing industries accounted for 669,000, led by leisure and hospitality with 246,000, and profession and business services with 130,000. Goods-producing industries grew by 138,000.

ADP Chief Economist Nela Richardson attributed the growth to the easing of the fallout from the Delta variant, while the impact of the Omicron variant has yet to be seen.