Payroll processing firm ADP said on Wednesday that private sector companies added 122,000 jobs in December.
The figure was below economists’ estimate of 140,000 jobs and down from 146,000 jobs the previous month.
“Labor market growth slowed in the final months of 2024, leading to a slowdown in both hiring and wage gains,” said Nella Richardson, ADP’s chief economist. “Health care led the way in the second half of the year and created more jobs than any other sector.”
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