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U.S. Companies Added 238,000 Jobs in December, ADP Reports

U.S. Companies Added 238,000 Jobs in December, ADP Reports (Bloomberg)

U.S. companies added more workers than projected in December amid rising optimism about the prospects for demand, according to a private report on payrolls. The 238,000 increase in employment was the biggest since November 2012 and followed a revised 229,000 gain in November that was better than initially estimated, concluded ADP Research Institute in Roseland, N.J. The December numbers exceeded the most optimistic forecast in a Bloomberg survey in which the median projection called for a 200,000 advance. A pickup in hiring, with rising wages, are helping to spur growth in consumer purchases. A Labor Department report this week may show private payrolls rose by 197,000 last month, according to the Bloomberg survey median.

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