ADP: Nov Private-Sector Jobs +206K Vs Expected +130K
November 30 2011 - 8:57AM
Dow Jones News
Private-business hiring jumped in November, according to a
report released Wednesday.
Private-sector jobs in the U.S. rose by 206,000, according to a
national employment report published by payroll giant Automatic
Data Processing Inc. (ADP) and consultancy Macroeconomic
Advisers.
Economists surveyed by Dow Jones Newswires expected ADP would
report an increase of 130,000. The October data were revised to
show a rise of 130,000 versus 110,000 reported earlier.
"The increase in November was the largest monthly gain since
last December and nearly twice the average monthly gain since May
when employment decelerated sharply," the report said.
The ADP survey counts only private-sector jobs, while the Bureau
of Labor Statistics' nonfarm payroll data, to be released Friday,
include government workers.
Economists surveyed by Dow Jones Newswires expect total nonfarm
payrolls rose by 125,000 slots in November, better than the 80,000
jobs added in October.
The extra-large jump in the ADP measure may cause some
economists to raise their forecast for Friday's payrolls
figures.
The November unemployment rate is expected to remain at
9.0%.
A report released Tuesday showed consumers are slightly more
upbeat about the November labor markets. The Conference Board's
consumer confidence survey showed 41.1% of respondents consider
jobs "hard to get" this month, down from 46.9% thinking that in
October.
The latest ADP report showed large businesses with 500 employees
or more added 12,000 employees to their staffs, while medium-size
businesses added 84,000 workers in November and small businesses
that employ fewer than 50 workers hired 110,000 new workers.
Service-sector jobs increased by 178,000 this month, and factory
jobs increased 7,000.
ADP, of Roseland, N.J., said it processes payments of one in six
U.S. workers. Macroeconomic Advisers, based in St. Louis, is an
economic-consulting firm.
Other job-related reports Wednesday weren't as upbeat about the
labor market.
TrimTabs estimated only 64,000 new jobs were created in
November. The report said, "It appears that hiring managers have
rolled up the welcome mat due to the raging debt crisis in
Europe."
In addition, layoff announcements this month were virtually
unchanged from October's level. Outplacement firm Challenger, Gray
& Christmas said the number of planned job cuts announced by
U.S.-based employers fell 0.7% to 42,474 in November.
Challenger Gray said, "With one month remaining in 2011, job
cuts for the year total 564,297, officially surpassing the 2010
year-end total of 529,973. The 11-month total is 13% higher than
the 497,969 job cuts announced over the same period a year
ago."
-By Kathleen Madigan, Dow Jones Newswires; 212-416-2466;
kathleen.madigan@dowjones.com
Automatic Data Processing (NASDAQ:ADP)
Historical Stock Chart
From May 2024 to Jun 2024
Automatic Data Processing (NASDAQ:ADP)
Historical Stock Chart
From Jun 2023 to Jun 2024