US companies added 202K workers in December: ADP

The private sector added 202,000 jobs in December, the most since April, according to a report released Wednesday by ADP and Moody’s Analytics.

The figures, which come just two days before the government’s monthly employment report, suggest 2019 ended with a surge in hiring. The tally was well above the 124,000 added in November, and it exceeded the 150,000 estimate by economists.

Mark Zandi, chief economist of Moody’s Analytics, said job creation would need to continue at a healthy clip if the 3.5 percent unemployment rate is to remain near historic lows.

“Looking through the monthly vagaries of the data, job gains continue to moderate,” he said. “Manufacturers, energy producers and small companies have been shedding jobs. Unemployment is low, but will begin to rise if job growth slows much further.”

President Trump is banking on a strong economy to push him to victory in November. Democrats, meanwhile, have focused on slow wage growth and increasing inequality.

Recent census data showed median incomes largely stagnated in 2018, though income increased for low-income Americans.