December payrolls jump biggest on record: ADP'S Prakken

NEW YORK Wed Jan 5, 2011 9:19am EST

Related Topics

NEW YORK (Reuters) - December's gain in U.S. private payrolls reported by ADP Employer Services was the "most robust number" on record, with data going back to 2000, Macroeconomic Advisers LLC Chairman Joel Prakken said on Wednesday.

Prakken was speaking after the ADP report, jointly developed with Macroeconomic Advisers, showed private employers added 297,000 jobs in December, about three times as much as forecast by economists surveyed by Reuters.

He noted seasonal factors may have boosted the December numbers but said: "It looks to me growth in employment has moved ... comfortably into positive territory and seems to be accelerating."

Prakken said he's confident Friday's U.S. Labor Department nonfarm payrolls report will show a "healthy number."

Friday's report is forecast to show nonfarm payrolls rose 140,000 in December, with a gain in private payrolls of 145,000, according to a Reuters poll.

Also. Prakken said, "Gains we reported were widespread ... and for the first time in years there was no decline in construction employment."

(Reporting by Caroline Valetkevitch; Editing by James Dalgleish)

FILED UNDER:
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
jabberwolf wrote:
Thought I dont believe all the numbers are permanent jobs, the jobs are returning.

I can’t wait for Obama to try and take credit for this. There will be a uproar in laughter when he does. The only reason people felt comfortable adding jobs in December was due to the fact they knew taxes would be lower and the Obama’s social agenda would come to a halt.

Now if/when they deal with Fannie and Freddie and the glut of fore-closers,- THEN and only then will the economy begin to boom.

Jan 05, 2011 3:06pm EST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.