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Hiring in the private sector rose at a faster than expected pace in December, closing out a strong 2023 for the resilient U.S. jobs market, ADP reported Thursday.
Private payrolls increased by 164,000 for the month, a substantial increase from the downwardly revised 101,000 in November and better than the 130,000 estimate from the Dow Jones consensus, according to the payrolls processing firm.
A rebound in leisure and hospitality led the way, as the sector added 59,000. Hotels, restaurants, bars and similar establishments had led the way in job creation after getting eviscerated in the early days of the Covid pandemic, but job creation in the industry tailed off in recent months. The sector also led in wage gains, with annual growth of 6.4%.
Construction contributed 24,000 to the total, while the other services category, which includes dry cleaning and other support businesses, added 22,000. Financial activities increased 18,000.