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The white-collar jobs wipeout shows no sign of slowing

Beneath headline employment growth, a new ADP jobs report shows major contraction in the white-collar labor market, especially in tech and consulting

By Catherine Baab
Published 11 hours ago

Private employers added 41,000 jobs in December, according to ADP’s latest data release on Wednesday, a modest rebound from November’s losses. But beneath the headline growth, the composition of hiring portrayed a far more fragile — and even frightening — picture of the underlying economy.

Here's what to know.

An ugly white-collar job contraction

Job losses were heavily concentrated in sectors most closely tied to business confidence and corporate investment. Professional and business services lost 29,000 jobs, while information services lost 12,000, wiping out the entire net gain on their own. Manufacturing employment also fell.

These declines were offset by gains in education and health services, leisure, and hospitality — sectors that are, generally speaking, much more insulated from economic cycles because demand remains relatively steady regardless of growth conditions.

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