U.S. December 'Little Non-Farm' Data Below Expectations, Wage Growth Falls to Lowest Point in Three and a Half Years
The U.S. December ADP Private Sector Employment Report shows that new jobs added were 122,000, the lowest increase since August of last year;
Wage growth increased by 4.6% year-on-year, the slowest growth since July 2021;
Following the data release, the 10-year U.S. Treasury yield slightly retreated, and the stock market futures' pre-market decline narrowed.
In terms of industry distribution, the education and health services sector performed the strongest, adding 57,000 positions in December, while the construction and leisure and hospitality sectors also added over 20,000 jobs each.
Another notable trend is that the ADP report indicates that most of the new jobs came from companies with over 500 employees, totaling 97,000.