Private sector companies added 122,000 jobs in December, less than expected, ADP says

Private sector job creation in December slowed more than expected, with companies adding 122,000 jobs, the smallest increase since August. Wages grew at a 4.6% rate from a year ago, the slowest pace in nearly 3½ years. The labor market showed signs of slowing growth, with hiring and pay gains decreasing, though layoffs remain low and initial claims for unemployment insurance were well below estimates.

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