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U.S. Businesses Quicken Pace of Hiring

Wall Street Journal (01/08/14) Kathleen Madigan

According to Automatic Data Processing Inc. and Moody’s Analytics, companies increased payrolls by 238,000 in December, which followed an upwardly revised November gain of 229,000. Economists surveyed by Dow Jones Newswires had predicted a December increase of 200,000.

The service sector grew by 170,000 jobs in December, while the construction sector grew by 48,000 jobs, and factories added 19,000 jobs.