Jobs in the US Increased in December

American companies ended 2017 with a strong recruitment during December, with the highest jobs recorded in nine months. This report caused the Dow Jones industrial average to outpaced its previous data at 25,000 points yesterday morning.

According to the ADP, firms created 250,000 jobs in the previous month and 185,000 in November. The increase was driven the strong hiring in the fields retail, healthcare and professional services like accounting and engineering. The presented statistics implies that businesses have a positive economic outlook and hiring additional staffs in order to meet high demand. Moreover, the data from the ADP is a good sign for the monthly jobs report by the government to be published on Friday. Based on the survey from FactSet, the forecast of the economists says that growth of jobs will gain 189,000. While jobless rate is predicted to stand still at 4.1 percent in the 17-year low.

The ADP figures include business payrolls but government employment is excluded due to divergence from the official data.

Moreover, the US economy is increasing in a steady manner and further supported by the strong holiday shopping season. Many economists expected that the tax reduction of Trump administration will heighten growth by 2018 with an estimate of one-third a percentage point, which could push the unemployment rate lower to 3.5 percent until the end of the year. In case this will take place, this could be the lowest level for about a half-century.