EconoIndicators

ADP Employment Report At a Glance

• Total Nonfarm Private Employment: 115,980,000
• Monthly Change: Up 40,000
• Products Producing Sector: 22,097,000
• Monthly Change: Down 31,000
• Service Producing Sector: 93,883,000
• Monthly Change: Up 71,000

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Nonfarm private employment grew 40,000 from November to December of 2007 on a seasonally adjusted basis, according to the ADP National Employment ReportTM. The estimated change in employment from October to November was revised down 16,000 to 173,000. December’s increase of 40,000 marked a slowing of nonfarm private employment growth that averaged 118,000 during the three-month period from September through November.

Employment in the service-providing sector of the economy grew 71,000, while employment in the goods-producing sector declined 31,000, the thirteenth consecutive monthly decline. Manufacturing employment experienced its eighteenth consecutive monthly decline, falling 16,000.

Small- and medium-size businesses more than accounted for the increase in total employment in December, adding 75,000 jobs. In contrast, employment among larger companies declined 35,000, more than reversing the sizable gains reported among these businesses in November.

Two sectors of the economy hit hardest by recent problems in mortgage markets have been residential construction and financial activities related to home sales and mortgage lending. Today’s data suggest that in these two crucial sectors employment is still falling. In December, construction employment fell 17,000. This is the thirteenth consecutive monthly decline, bringing the total decline in construction jobs since the peak in August 2006 to 199,000. Employment in financial activities fell 5,000, which is the third decline during the last five months.
ADP Employment Report - December 2007 [PDF]

Source: ADP