US December ADP employment +122K vs +140K expected

• Prior was +146K
• Annual pay growth for job-stayers 4.6% vs 4.8% prior
• Job-changers’ pay gains 7.1% vs 7.2% prior
• Services +112K vs +140K prior
• Goods +10K vs +6K prior

This is a more-benign jobs report and should help to cool some of the inflation angst in the market.

“The labor market downshifted to a more modest pace of growth in the
final month of 2024, with a slowdown in both hiring and pay gains.
Health care stood out in the second half of the year, creating more jobs
than any other sector,” said Nela Richardson, chief economist at ADP.

This article was written by Adam Button at www.forexlive.com.