Private employers add 41,000 jobs in December, missing estimate

Private employers added 41,000 jobs in December, recovering from losses in the previous month but missing the projected estimate for gains by a few thousand jobs.

Dow Jones estimated the private sector would add about 48,000 jobs in the final month of the year after losing 29,000 workers in November.

Gains made were coupled with a 4.4 percent year-over-year pay increase for employees, according to ADP.

The South and Northeast tracked the most growth, with 54,000 new jobs in the Southern region and 40,000 in the Northeast.

The West was the only region to see a decrease in jobs, with 61,000 roles cut. 

The decrease reflects a broader decline in roles within the information, business services and manufacturing industries.

Goods-producing sectors faced steep reductions, losing 5,000 manufacturing roles, while construction and natural resources or mining grew by 1,000 jobs apiece.  

Education and health services employment swelled by 39,000 jobs, closely followed by the leisure and hospitality sector, which added 24,000 new jobs. Trade, transportation and utilities also grew by 11,000 roles.

Economists tracking growth trends say unemployment should drop to 4.5 percent, while those surveyed by Dow Jones expect 73,000 new jobs in January.