US Hiring Slows Sharply, Missing Forecasts

Private companies in the United States hired far fewer workers than expected in December, according to new data. The report from payroll processor ADP showed a gain of 164,000 private sector jobs last month. This was significantly below economist predictions. The slowdown comes after a stronger November. The hiring rebound was led by the services sector. Education and health services added the most jobs. Leisure and hospitality businesses, which include restaurants and hotels, were also major contributors. The data provides an early snapshot of US labor market strength. It comes ahead of the more comprehensive government employment report due later this week.