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Strong economic numbers released
|Last Edited||Brandon Jan 05, 2012 12:04pm|
|Author||JOSH BOAK |
|News Date||Thursday, January 5, 2012 08:00:00 PM UTC0:0|
|Description||The economy appears to be smiling on President Barack Obama, just as Republican voters have started heading to the polls to pick his challenger. |
Private sector hiring surged in December to the highest level in 10 years, according to a payrolls report released Thursday by ADP Employment Services.
Companies added 325,000 workers last month, ADP said, dramatically surpassing the market consensus of payrolls increasing by 175,000.
Wall Street analysts said the job market has improved as the shocks caused last year from the Japanese tsunami and the Arab Spring have grown fainter. Following a scare this summer that the federal government might fail to raise its debt ceiling and risk default, the U.S. economy has shown new signs of strength with manufacturing indicators and construction spending improving.