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Wednesday, January 5, 2011

Hiring surges in December, buoys economic outlook

Hiring surges in December, buoys economic outlook

(Reuters) - The number of U.S. private-sector jobs surged in December at a rate three times stronger than forecast, a hiring report showed, the most bullish signal in months that a recovery in the world's biggest economy is shifting up a gear.

The ADP Employer Services private-sector jobs report logged its biggest-ever rise on Wednesday. It comes two days ahead of the U.S. government's closely watched and more comprehensive payrolls report for December, spurring many economists to raise their forecasts for that data.

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