Path 27
News

Trump Economy Continues Winning as US Companies Add 202K Workers in December: Report

Path 27

The jobs market finished 2019 on a high note, adding 202,000 new positions to the private sector payrolls in December.

According to an ADP and Moody’s Analytics report released on Wednesday, the service sector provided 173,000 of those positions.

Meanwhile, small and medium sized companies made up a bulk of the hiring, with small businesses (1-49 employees) adding 69,000 new jobs, while midsized employers (50-499 workers) brought on 88,000.

Trending:
Olympian's Overzealous Victory Celebration Ends Up Costing Him More Than He Ever Imagined

The construction sector saw a 37,000 increase in employment, while the manufacturing sector lost 7,000 positions.

“The service providers posted the largest gain since April, driven mainly by professional and business services. Job creation was strong across companies of all sizes, led predominantly by midsized companies,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

“Manufacturers, energy producers and small companies have been shedding jobs,” noted Mark Zandi, chief economist of Moody’s Analytics.

The total 202,000 jobs added “was well above the 150,000 consensus estimate from economists surveyed by Dow Jones and sets the stage for the government’s official count that will be released Friday,” according to CNBC.

Do you believe the economy will remain strong through 2020?

ADP also revised its initial November new jobs count from 67,000 to 124,000 created.

Ivanka Trump, who leads the Trump administration’s National Council for the American Worker, touted the gains made while her father has been in office at the Consumer Electronics Show in Las Vegas on Tuesday.

“This is a very very exciting time to be in the work force,” Trump said during her keynote remarks.

Related:
Trump Reportedly Urged Acting AG to Say One Thing and 'Leave the Rest to Me'

“One of the things that I’m really passionate about is there really is this blue collar boom that is taking place,” she added.

“If you look at where wages are rising, they’re rising the fastest in the bottom quintile. They’re rising the fastest for blue collar workers,” Trump said.

The country has been experiencing its lowest unemployment rate since 1969, and the lowest ever for African-Americans, Hispanic-Americans and Asian-Americans.

Meanwhile, hourly wages have risen at their fastest rate in years, with those at the lowest end of the economic spectrum seeing the highest percentage gains.

Since President Donald Trump was elected, 7 million new jobs have been created.

Truth and Accuracy

Submit a Correction →



loading

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
, , , ,
Path 27
Randy DeSoto has written more than 1,000 articles for The Western Journal since he joined the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book "We Hold These Truths" and screenwriter of the political documentary "I Want Your Money."
Randy DeSoto is the senior staff writer for The Western Journal. He wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.
Birthplace
Harrisburg, Pennsylvania
Nationality
American
Honors/Awards
Graduated dean's list from West Point
Education
United States Military Academy at West Point, Regent University School of Law
Books Written
We Hold These Truths
Professional Memberships
Virginia and Pennsylvania state bars
Location
Phoenix, Arizona
Languages Spoken
English
Topics of Expertise
Politics, Entertainment, Faith




loading

Conversation