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ADP National Employment Report increased by 206,000
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Private-sector employment increased by 206,000 from October to November on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The ADP National Employment Report, created by Automatic Data Processing, Inc. (ADP®), in partnership with Macroeconomic Advisers, LLC, is derived from actual payroll data and measures the change in total nonfarm private employment each month. The estimated gain in employment from September to October was revised up to 130,000 from the initially reported 110,000.
According to today’s ADP National Employment Report, employment in the nonfarm private business sector rose 206,000 from October to November on a seasonally adjusted basis. Employment in the private, service-providing sector increased 178,000 in November, after rising 130,000 in October. Employment in the private, goods-producing sector rose 28,000 in November. Manufacturing employment increased 7,000, offsetting the previous month’s decline, while construction employment grew 16,000.
This month’s jobs figures show positive growth in all major sectors of the economy and are in line with the recent drop in the national unemployment rate and weekly jobless claims. Despite fiscal uncertainties here and abroad, owners of small- and medium-sized businesses found ways to grow and hire in November. As in previous months, service providers led the way in job creation.
November’s advance was the largest monthly gain since last December and nearly twice the average monthly gain since May when employment decelerated sharply. Today’s report, notably above the consensus forecast, suggests that employment, which decelerated during the spring, accelerated in November. A firming of employment was evident in the major sectors of the economy tracked in The ADP National Employment Report, and across payrolls of most sizes.
November’s increase in employment normally would be associated with a decline in the unemployment rate. An acceleration of employment is consistent with data showing that GDP growth, which slowed sharply around the turn of the year, is gradually recovering.
Employment on medium payrolls—those with 50 to 499 workers—rose 84,000 in November. Employment on large payrolls—those with 500 or more workers—increased 12,000 during that same period.
Posted: November 30, 2011 Wednesday 08:15 AM