ABA Banking Journal
The non-farm private sector added 190,000 jobs in November, according to the ADP National Employment Report. This followed a 235,000 job increase in October.
Small businesses with fewer than 50 employees gained 50,000 jobs. Medium-sized businesses with 50-499 employees created 99,000, while large businesses added 41,000 jobs.
“The labor market continues to grow at a solid pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Notably, manufacturing added the most jobs the industry has seen all year. As the labor market continues to tighten and wages increase it will become increasingly difficult for employers to attract and retain skilled talent.”
Service-providing employment rose by 155,000 jobs, driven by the education and health services sector which added 54,000. The health services sector had a robust report, adding 31,000 jobs. Goods-producing employment grew by 36,000 jobs. The manufacturing industry gained 40,000, while the construction sector lost 4,000 jobs.
Read the ADP report.
