US private sector adds more jobs than expected in November

digitallook-Private sector employment in the US rose a lot more than expected in November, according to data released by ADP on Wednesday.
Employers added 216,000 jobs, which was a much bigger increase than the 165,000 expected by economists. Meanwhile, the October figure was revised down to show that 119,000 jobs had been added rather than the 147,000 previously estimated.
Small businesses with fewer than 50 employees added 37,000 jobs, while medium-sized business with between 50 and 499 employees added 89,000 jobs.
Large companies with 500 or more employees added 90,000 jobs in November.
The services sector added 228,000 jobs, while the goods-producing sector lost 11,000. US private sector adds more jobs
Mark Zandi, chief economist at Moody’s Analytics, said: “Businesses hired aggressively in November and there is little evidence that the uncertainty surrounding the presidential election dampened hiring.
“In addition, because of the tightening labour market, retailers may be accelerating seasonal hiring to secure an adequate workforce to meet holiday demand, although total expected seasonal hiring may be no higher than last year’s.”

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