Slower Growth in U.S. Private Sector Employment in November

Recent data released by ADP on Wednesday showed a slowdown in job growth in the U.S. private non-farm sector during November.

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According to the data, the U.S. economy added only 146,000 new jobs during the month, which fell short of market expectations of 150,000 jobs. The numbers also contrast with October’s revised data, where the previous figure of 233,000 jobs was adjusted down to 184,000.

ADP data is considered one of the key economic indicators that measure the performance of the U.S. labor market, as it covers all major economic sectors except the government sector. Analysts and economists rely on this data to evaluate the state of the labor market and its responsiveness to the monetary policy changes implemented by the Federal Reserve.

Employment Breakdown by Company Size

Small Businesses: Recorded a decline of 17,000 jobs.
Medium-Sized Businesses: Added 42,000 jobs.
Large Businesses: Achieved significant growth with 120,000 new jobs, reflecting their continued strength in job creation.

Employment Breakdown by Sector

Goods-Producing Sector: Added 6,000 jobs.
Services Sector: Contributed 140,000 jobs, highlighting the significant role of the service industries in supporting the U.S. labor market.

It is worth noting that ADP relies on a partnership with Moody’s Analytics for its monthly reports. These reports serve as an early indicator for forecasts related to the Non-Farm Payrolls report issued by the U.S. Department of Labor. Since it exclusively covers private-sector jobs and excludes the government sector, it is a valuable tool for assessing overall economic activity.

Slower Growth in U.S. Private Sector Employment in November

Slower Growth in U.S. Private Sector Employment in November

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