U.S. Employers Kept Strong Hiring Momentum in November -- ADP
December 01 2021 - 9:02AM
Dow Jones News
By Xavier Fontdegloria
Hiring among the U.S. private sector kept robust pace in
November, signaling that the job market continued to recover from
the pandemic-induced shock.
The U.S. nonfarm private employment rose by 534,000 in November,
data from ADP National Employment Report showed Wednesday, beating
the 506,000 rise forecast by economists polled by The Wall Street
Journal. The number of jobs added in October was slightly revised
to 570,000.
"The labor market recovery continued to power through its
challenges last month," said Nela Richardson, chief economist at
ADP.
Large businesses, those of at least 500 workers, added 277,000
jobs in November, the report said. Medium-sized businesses, between
50 and 499 employees, created 142,000 jobs; and small businesses,
with a maximum of 49 employees, recorded 115,000 payroll gains.
By sector, services providers created 424,000 jobs, with leisure
and hospitality adding 136,000 payrolls, the data showed.
Jobs in the goods-producing sector were up by 110,000, with
52,000 in construction, 50,000 in manufacturing and 7,000 in
natural resources and mining.
Job gains have topped 15 million since the recovery from the
pandemic began, but there is still a gap of around five million
additional jobs to fill to recover to pre-pandemic levels, Ms.
Richardson said. It is too early to tell if the Omicron variant
could potentially slow the jobs recovery in coming months, she
said.
The report, carried out by the ADP Research Institute along with
Moody's Analytics, is based on data through the 12th of the
month.
The U.S. Department of Labor is expected to release its
employment report for November, which covers the same period as the
ADP National Employment Report, on Friday. Economists polled by The
Wall Street Journal are expecting it to show nonfarm payrolls up by
573,000 for the month and the unemployment rate down to 4.5%. The
ADP series can diverge considerably from the Labor Department's
data.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com
(END) Dow Jones Newswires
December 01, 2021 08:47 ET (13:47 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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