ADP just released its December payroll report, and it shows a big boost in private sector hiring.  Bloomberg's Timothy Homan reports that companies "boosted payrolls" more last month than any previous month since the survey began in 2001.  Seasonal hiring always makes December payroll numbers a bit different from other months, and the ADP report only includes private sector jobs, but this is likely welcome news ahead of Friday's Labor Department jobs release.  Homan:

Employment increased by 297,000, exceeding the highest projection in a Bloomberg News survey, after a revised 92,000 rise in November, according to figures from ADP Employer Services. The median estimate in the Bloomberg survey called for a 100,000 gain last month.

Faster job growth will fuel the income gains necessary to further spur consumer spending, which accounts for about 70 percent of the economy. A Labor Department report in two days will show companies added 150,000 workers last month and the unemployment rate eased to 9.7 percent, according to the Bloomberg survey median.

Read the full article here.