ADP Payroll Report = 807,000

The S&P 500 is about flat this morning. Value is having a good day while Growth appears sluggish. On our Buy List, AFLAC (AFL), Hershey (HSY) and Church & Dwight (CHD) are each up to a new all-time high.

The big news this morning is that the ADP payroll report came in very strong. According to ADP, 807,000 new jobs were created last month. That more than doubled expectations of 375,000.

Private job growth totaled 807,000 for the month, well ahead of the Dow Jones estimate for 375,000 and the November gain of 505,000. The November total was revised lower from the initially reported 534,000.

The total was the best for the job market since May 2021′s 882,000 figure, according to the ADP data.

Hiring was broad-based, though leisure and hospitality led with 246,000 new positions. Trade, transportation and utilities contributed 138,000, professional and business services increased by 130,000, and education and health services added 85,000.

While service-related professions led with 669,000 new hires, the goods-producing side also showed strong gains. Manufacturing rose 74,000 and construction contributed 62,000 to the total.

Posted by on January 5th, 2022 at 10:26 am


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