By CountingPips.com
U.S. employment data released today in the form of the ADP National Employment Report showed that U.S. private employment increased by much more than expected in the month of December. The nonfarm private employment report rose by 297,000 workers in December following the revised increase of 93,000 jobs in November. This is the largest 
monthly increase in private payrolls on record for the report with data that goes back to 2000. ADP employment levels have now shown positive growth for 11 straight months.
The December report easily surpassed the market forecasts which were expecting an approximate increase of 100,000 jobs.
The service-providing sector led the job creation with an increase of 270,000 jobs in December while the goods-producing sector rose by 27,000 jobs. Manufacturing had a gain of 23,000 jobs while construction jobs were unchanged for the month.
All size of businesses added jobs in December as large businesses increased by 36,000 jobs, medium sized businesses added 144,000 jobs and employment by small businesses rose by 117,000 jobs.
The market-moving US Nonfarm Payrolls report for December is to be released Friday at 13:30 pm GMT with early market forecasts predicting a potential gain of 140,000 jobs and with the unemployment rate dipping to 9.7 percent.
