Change in private NFP +37K < +64K Bloomberg consensus, previous months revised down 121K.

Figure 1: Implied preliminary benchmark private nonfarm payroll release December release (bold black), November release (thin black), ADP based nowcast (light blue +), +/- one standard error prediction interval (gray +), Bloomberg consensus based on consensus change (red square), all in 000’s, s.a. Source: BLS, ADP, and author’s calculations. 

The official private NFP series shows a gain of 733K in 2025; the implied preliminary benchmark suggests a 513K gain.