ADP employment Dec 2021
  • Prior was 534K
  • Estimates ranged from 300K-500K
  • Goods +138K vs +110K prior
  • Services +669K vs +424K
  • Leisure and hospitality jobs +246K vs +136K prior
  • Trade and transportation +138K vs +78K prior
  • Health and education +85K vs +55K prior
  • Full report

Friday is the non-farm payrolls report and his will bump up market expectations, even if ADP's track record since the pandemic has been spotty. It's the best reading since May.

It's not a surprise to see hiring in transportation and health, which are in high demand; but the jump in leisure and hospitality during omicron was unexpected.