The latest ADP report showed large businesses with 500 employees or more added 36,000 employees, medium-size businesses added 144,000 workers in December and small businesses that employ fewer than 50 workers hired 117,000 new workers.
The breakdown between small and large businesses is one reason why there is usually a disparity between ADP and government data. The government is good at surveying large organizations but is terrible at picking up hiring of small numbers of workers at small and mid-sized businesses.
ADP provides payroll services to 17% of the US population, so it sees first hand surges in hiring. In some ways, the ADP data is likely a lot more accurate (though less impactful) than the government employment report.
The buck is holding onto the bulk of its gains as the gloom surrounding the US economic malaise lifts a bit. Better payrolls mean greater tax receipts, fewer social benefits and lower deficits…
