Private sector companies added 122,000 jobs in December, payroll processing firm ADP said on Wednesday.
The number was below economists' estimate of 140,000 jobs and down from 146,000 jobs in the previous month.
“The labor market slowed to a more modest pace of growth in the final months of 2024, with both hiring and wage gains slowing,” said ADP chief economist Nella Richardson. “Health care stood out in the second half of the year, creating more jobs than any other sector.”
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