2014 Ends With Strong Job Growth as Private Sector Adds 241k Jobs

Total-Nonfarm-Private-Employment-by-Company-Size-December-20142014 ended on a strong note with private employers in the U.S. adding 241,000 new jobs. It’s the fourth consecutive month that ADP’s National Employment Report showed job growth over 200,000 and was well above the 225,000 jobs forecast by economists.

“The job market continues to power forward,” said Mark Zandi, chief economist of Moody’s Analytics which compiles ADP’s payroll data. “At the current pace of job growth, the economy will be back to full employment by this time next year.”

Based on ADP’s monthly reports, the U.S. economy added almost 2.5 million private sector jobs during the year. The U.S. government’s Bureau of Labor Statistics shows 2.5 million new public and private jobs for the year through November. The government’s December numbers will be released Friday. Economists expect that report to show 240,000 total new jobs; 228,000 are forecast to have come from the private sector.

Most of the new jobs came in the service sector, with the professional and business category contributing 69,000. That group includes temp and contract labor, one of the fastest-growing sectors.

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Goods producers accounted for 46,000 new jobs. Construction jobs grew by 23,000, while manufacturers created 26,000 new jobs.

Small employers (under 50 employees) once again were responsible for the largest share of new jobs, adding 106,000 workers to payrolls during December. Those with headcounts between 50 and 499 added 70,000 workers. The balance came from larger employers.

John Zappe is the editor of TLNT.com and a contributing editor of ERE.net. John was a newspaper reporter and editor until his geek gene lead him to launch his first website in 1994. He developed and managed online newspaper employment sites and sold advertising services to recruiters and employers. Before joining ERE Media in 2006, John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group.

Besides writing for ERE, John consults with staffing firms and employment agencies, providing content and managing their social media programs. He also works with organizations and businesses to assist with audience development and marketing. In his spare time  he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.

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