In December, 123,000 jobs were cut in the private sector
The US companies surprisingly cut jobs at the end of the corona year 2020. The bottom line was that 123,000 jobs were cut in the private sector in December, according to the survey published on Wednesday by the personnel service provider ADP. Experts, however, had expected 88,000 new jobs to be created. In November the number of jobs increased by 304,000.
The ailing job market is one of the greatest challenges for the US Federal Reserve and also for the future US President Joe Biden. More than 22 million jobs were lost in the corona pandemic, of which only around twelve million have been regained so far.
Experts expect the number of jobs outside of agriculture to rise by 100,000 for the government's December labor market report due on Friday. The job creation would be much lower than in November with 245,000 at the time.
