ADP: 534,000 Jobs Gained in November

The non-farm private sector gained 534,000 jobs in November, according to the ADP National Employment Report. This follows a revised October increase of 570,000 jobs.

Small businesses with fewer than 50 employees gained 115,000 jobs. Medium-sized businesses with 50-499 employees gained 142,000, while large businesses increased by 277,000 jobs.

“The labor market recovery continued to power through its challenges last month,” said Nela Richardson, chief economist, ADP. “November’s job gains bring the three-month average to 543,000 monthly jobs added, a modest uptick from the job pace earlier this year. Job gains have eclipsed 15 million since the recovery began, though 5 million jobs short of pre-pandemic levels. Service providers, which are more vulnerable to the pandemic, have dominated job gains this year. It’s too early to tell if the Omicron variant could potentially slow the jobs recovery in coming months.”

Service-providing employment led the increase with 424,000 jobs gained, driven by the leisure & hospitality and professional/business services sectors, which rose by 136,000 and 110,000 jobs respectively.

Goods-producing employment rose by 110,000 jobs. The manufacturing sector gained 50,000 jobs and construction rose by 52,000 jobs. Natural resources/mining rose by 7,000 jobs.

Read the ADP report.

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