Private Job Growth Surges in December, Doubling Expectations

Private firms’ payrolls increased by 807,000 in December, more than doubling expectations as COVID-19 cases rise, according to a major employment report.

The 807,000 jobs added marks a significant increase from the 505,000 jobs added in November, according to the ADP National Employment Report. December’s figure far exceeds the Dow Jones estimate of 375,000, according to CNBC.

“December’s job market strengthened as the fallout from the Delta variant faded and Omicron’s impact had yet to be seen,” said Nela Richardson, chief economist at ADP, CNBC reported. “Job gains were broad-based, as goods producers added the strongest reading of the year, while service providers dominated growth.”

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Retail Sales Grew in October as Shoppers Faced Higher Prices Entering the Holiday Season

U.S. retail sales increased in October as shoppers faced the largest price increase in 30 years entering the holiday season.

Retail sales, a measure of how much consumers spent on goods, increased 1.7% in October, far exceeding September’s 0.7% figure, the U.S. Census Bureau reported Tuesday. Core sales, excluding autos, jumped 1.7% in October.

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Private Payrolls Added 571,000 Jobs in October as Hiring Heats Up

Private firms’ payrolls increased by 571,000 in October, far exceeding experts’ expectations as hiring throughout the country heats up, according to a major employment report.

The 571,000 jobs added is a slight increase from the 523,000 jobs added in September, the ADP National Employment Report showed. The Dow Jones estimate predicted companies would add 395,000 jobs in October, CNBC reported.

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Stocks Roar Back from Coronavirus Plunge to Biggest One-Day Gain Since 2009

by Mary Margaret Olohan   The stock market came roaring back Monday following a steep decline propelled by anxieties over the coronavirus. The Dow Jones Industrial Average climbed 5.1% or 1,293 points higher while the S&P 500 rose 4.6%  and the Nasdaq Composite climbed 4.5%, CNBC reports. The stocks’ gains come after seven days of losses for…

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