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U.S. private payrolls surge in December; Omicron seen sapping momentum

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Reuters

By Lucia Mutikani WASHINGTON (Reuters) -U.S. private payrolls increased more than expected in December, pointing to underlying labor market strength, but sky-rocketing COVID-19 infections could slow momentum in the months ahead. Private payrolls surged by 807,000 jobs last month, the ADP National Employment Report showed on Wednesday. Data for November was revised lower to show 505,000 jobs added instead of the initially reported 534,000. Economists polled by Reuters had forecast private payrolls would increase by 400,000 jobs. The survey was conducted in mid-December just as COVID-19 cases, d…

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