Private companies added 297,000 jobs to market in December

Families may be packing their bags and hiring moving services soon, as a new ADP report suggests that the U.S. job market may finally be entering better days.

Employment at private sector companies increased by 297,000 from November to December, the largest monthly increase since 2001. The figure is also a significant jump from the 92,000 employment rise reported by ADP in November.

Some experts say companies that have previously been hesitant to add more people to their payroll may finally be financially stable enough to take the risk.

"Companies have been pretty cautious and they’ve accumulated a lot of spending power, and we've seen that in purchases of equipment and software. Now they need more workers to man the equipment," Jim O'Sullivan, global chief economist at MF Global told Bloomberg News.

The ADP report isn't the only one that predicts a positive change for the U.S. job market. The Department of Labor recently reported that unemployment insurance claims dropped to 388,000 during the week ending December 25, the first time claims had fallen below 400,000 since 2008.

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