Private payrolls rose 41,000 in December, slightly below expectations, ADP says

Summary

ADP's December report showed private payrolls rebounding by 41,000, led by education/health care and leisure/hospitality, while goods losses narrowed and small-business hiring increased. Nela Richardson said the data are a good sign for 2026 and expects the strongest hiring sectors to remain strong. She noted ADP has been benchmarked to QCEW while BLS has not, so Friday's BLS report may not be directly comparable. She also described a K-shaped economy in which high-income consumers are driving spending.

• ADP private payrolls rose 41,000 in December, slightly below expectations.
• Education/health care and leisure/hospitality led hiring gains.
• Goods-producing job losses narrowed and small-business hiring rebounded modestly.
• Nela Richardson called the rebound a positive sign going into 2026.
• ADP data have been benchmarked to QCEW while BLS data have not, limiting comparability.
• The speaker expects strong labor-market sectors to stay strong.
• The economy remains K-shaped, with high-income consumers driving spending.