The latest U.S. job market reports indicate that layoffs fell, unemployment stayed low, and private hiring rose.
“The job market held firm in December despite the intensifying fiscal cliff negotiations,” said Mark Zandi, chief economist at Moody’s Analytics. “Businesses even became somewhat more aggressive in their hiring at year end.”
The most encouraging sign came from payroll provider ADP. Its monthly employment survey showed businesses added 215,000 jobs last month, the most in 10 months and much higher than November’s total of 148,000.
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