With the impact of the coronavirus pandemic on the labor market intensifying, payroll processor ADP released a report on Wednesday showing an unexpected drop in private sector employment in the U.S. in the month of December.
ADP said private sector employment fell by 123,000 jobs in December after jumping by a downwardly revised 304,000 jobs in November.
The decrease surprised economists, who had expected employment to climb by about 88,000 jobs compared to the addition of 307,000 jobs originally reported for the previous month.
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