According to the last month’s pay roll, the U.S private sector hired nearly 2.5 million employees in 2014. It shows that U.S economy is going to expand soon regardless of the apprehensions of global growth.
ADP reported that private companies employed a large number of workers. Overall, the firms have added around 241,000 jobs which have certainly left behind all the expectations of analysts and economists.
ADP usually presents data in which private sectors and a few government agencies are included. Hence, the reports of ADP cover a wide range of firms unlike the annual government surveys.
Carlos Rodrigues, CEO of ADP states that employment rate of December plays a vital role in the overall employment growth report of 2014. The companies hired more than two and a half million employees in December. Solid improvement is observed in mid size and big companies.
The considerable employers are seen in the service sectors. The service firms appointed around 194,000 workers. In comparison, the industries which produce goods are on number second on the list. They took up approximately 46,000 people for their companies. Rest of the business divisions such as utilities and transportation employed 44,000 and 26,000 workers respectively.
It looks like as if small business holders played a significant part in job opportunities. Small industries which have less than 100 employees hired nearly 106,000 new people.