美国12月“小非农”恢复正增长，仍逊于市场共识预期

Group 1 - The latest ADP employment report indicates a slight recovery in employment numbers, with November's figures revised from -32,000 to -29,000, although still below expectations [2] - The December employment growth was primarily driven by the service sector and small businesses with fewer than 500 employees, adding 39,000 jobs in education and healthcare, 24,000 in leisure and hospitality, and 11,000 in trade, transportation, and utilities [4] - The report highlights a decline in certain sectors, including a loss of 29,000 jobs in professional and business services, 12,000 in information services, and 5,000 in manufacturing [4] Group 2 - ADP's Chief Economist Nela Richardson noted that small businesses have recovered from the employment decline in November, while larger employers are reducing their workforce [4] - The report also shows an increase in annual salary growth for job switchers to 6.6%, up from a previous low of 6.3%, while salaries for employees remaining in their jobs remained stable at 4.4% [4] - Economists expect a recovery in the upcoming non-farm payroll data, predicting an addition of 73,000 jobs in December, up from 64,000, with a slight decrease in the unemployment rate to 4.5% [4]