US private payrolls rise less than expected in December

By Mucahithan Avcioglu

ISTANBUL (AA) - US private payrolls increased by 41,000 in December, rebounding from the previous month, but less than market forecasts, according to a report released Wednesday by the ADP Research Institute.

Markets had expected the figure to show a rise of 49,000 in December, following an upwardly revised 29,000 decline in November.

The ADP said in a statement that December brought a rebound in hiring, led by education and health services, and leisure and hospitality.

"Small establishments recovered from November job losses with positive end-of-year hiring, even as large employers pulled back," ADP chief economist Nela Richardson said.

Education and health services posted the highest gain by adding 39,000 jobs in December, followed by leisure and hospitality with 24,000.

They were followed by 11,000 new jobs in trade, transportation, and utilities, and 6,000 in financial activities.

Meanwhile, professional and business services saw the biggest job losses with 29,000 in December, followed by information services with 12,000 losses, and manufacturing with 5,000 decline.