12/4/2019, 2:15 PM (Source: TeleTrader)
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ADP: US private payrolls up by 67K in November

The private sector in the United States added 67,000 jobs in November, according to the ADP National Employment Report released on Wednesday. The figure is significantly below analysts' expectations of a rise of 140,000.

Mid-sized companies in the private sector added 29,000 jobs and jobs in large firms rose by 27,000. The number of employees in small businesses increased by 11,000 compared to the previous month. The service sector added 85,000, most of which in education and health. On the other hand, payrolls in the manufacturing sector dropped by 18,000.

"In November, the labor market showed signs of slowing," vice president of the ADP Research Institute, Ahu Yildirmaz, stated. "The goods producers still struggled; whereas, the service providers remained in positive territory driven by healthcare and professional services. Job creation slowed across all company sizes; however, the pattern remained largely the same, as small companies continued to face more pressure than their larger competitors," she added.

Breaking the News / NP