Earlier this week Automatic Data Processing Inc. (ADP) reported that private sector employment increased by 215,000 private sector jobs in November. November job creation improved by 85,000 from the previous month. The November job growth is a healthy sign as 2013 comes to a close. Of the 215,000 jobs that were created in November, small businesses with 1-49 employees added a respectable 102,000 jobs, followed by medium-sized businesses with 50-499 employees adding 48,000 jobs which was the fewest and large businesses with 500-1000+ employees adding in November 65,000 jobs.
According to the ADP National Employment Report the Service Sector added a whopping 176,000 jobs in during the period, while the Goods Producing Sector added 48,000 jobs. While October hiring was lean, November hiring suggests expansion of payroll which represents real national job growth. Confidence in the economy seems to be improving as 2013 is set to end.
Chief economist, Mark Zandi of Moody's Analytics, said “The job market remained surprisingly resilent to the government and brinksmanship over the treasury debt limit. Employers across all industries and company sizes looked through the political battle in Washington. If anything, job growth appears to be picking up”.
“According to ADP National Employment Report findings, the U.S. private sector added a total of 215,000 jobs during the month of November making it the strongest month for job growth in 2013. It is encouraging sign as we head toward the new year”.
The ADP National Employment Report is a monthly report that measures the change in total U.S. non farm private employment collected through anonymous ADP client companies. The ADP National Employment Report measures almost 24 million workers trends. The report is produced by ADP Research Institute in collaboration with Moody's Analytics, Inc. To view the full report can go to ADP National Employment Report.
The next ADP National Employment Report will be released on January 7, 2014 that will cover jobs created in December 2013.
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