Sharp rise for private sector jobs in December (MarketWatch) (05-01-2011)

WASHINGTON (MarketWatch) — Private-sector employment rose sharply by 297,000 in December, according to Automatic Data Processing Inc.’s employment report released Wednesday, in what could be a signal that the recovery is finally adding jobs at a meaningful clip.

Employment in the service-producing sector rose 270,000, the largest monthly increase on record. Employment in the goods-producing sector rose 27,000, the largest gain since February 2006.

The number took Wall Street by surprise as the number expected was 100,000. Treasuries fell and the dollar rose after the report’s release.

In November, private payrolls gained 92,000, ADP said.

Source: MarketWatch