US private-sector employment rose by 250,000 jobs in December from November, with much of the gains in the service sector, according to the ADP National Employment Report. It was the largest month-over-month gain since March.

“We've seen yet another month where the labor market has shown no signs of slowing,” said Ahu Yildirmaz, VP and co-head of the ADP Research Institute. “Throughout the year there was significant growth in services except for an overall loss of jobs in the shrinking information sector. Looking at company size, small businesses finished out 2017 on a high note adding more than double their monthly average for the past six months.”

The hiring increase remains consistent with a tight job market that has challenged companies’ ability to attract skilled and experienced workers, according to Bloomberg.

The number of goods-producing jobs rose by 28,000 in December on gains of 16,000 construction jobs, 9,000 manufacturing jobs and 3,000 natural resources/mining jobs.

Service-providing jobs rose by 222,000 in December, including 72,000 jobs in professional/business services; 50,000 in education/health services; and 45,000 in trade/transportation/utilities. On the flip side, jobs in information fell by 4,000.

Large businesses added 56,000 jobs in December, midsize businesses added 100,000 and small businesses added 94,000 jobs.

“The job market ended the year strongly,” said Mark Zandi, chief economist of Moody's Analytics. “Robust Christmas sales prompted retailers and delivery services to add to their payrolls. The tight labor market will get even tighter, raising the specter that it will overheat.”

And in other economic news released today:

• Global CEO confidence rebounds in the fourth quarter: Global CEO confidence bounced back in the fourth quarter after decreasing in the third quarter, according to The Conference Board’s measure of CEO confidence. In the fourth quarter, the measure increased to a level of 63, up from 59 in the third quarter. A reading of more than 50 reflects more positive than negative responses. “CEO confidence rebounded in the final quarter of 2017, following back-to-back quarterly declines,” said Lynn Franco, director of economic indicators at The Conference Board. “CEOs’ short-term expectations for growth in both mature and emerging markets also improved, and they expressed the greatest optimism about short-term prospects in the US.”

• Jobless claims average rises: The US four-week moving average of initial claims for unemployment insurance rose to 241,750 last week, up 3,500 from the previous week, according to seasonally adjusted numbers released today by the US Department of Labor. The previous week’s average was revised upward by 500. The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended Dec. 30 rose to 250,000, up 3,000 from the previous week’s level, which was revised up by 2,000.

• Minneapolis area posts lowest jobless rates among large US metros: The Minneapolis-St. Paul-Bloomington metropolitan area in Minnesota posted the lowest unemployment rates among all large, US metropolitan areas at 2.4% in November, the US Bureau of Labor Statistics announced today. The highest jobless rate among large metropolitan areas in December was posted by the Buffalo-Cheektowaga-Niagara Falls area in New York, at 5.3%.