ADP: 127,000 jobs gained in November

The non-farm private sector gained 127,000 jobs in November, according to the ADP National Employment Report. This follows a revised October increase of 239,000 jobs.

Small businesses with fewer than 50 employees lost 51,000 jobs. Medium-sized businesses with 50-499 employees gained 246,000 while large businesses lost by 68,000 jobs.

“Turning points can be hard to capture in the labor market, but our data suggest that Federal Reserve tightening is having an impact on job creation and pay gains. In addition, companies are no longer in hyper-replacement mode. Fewer people are quitting, and the post-pandemic recovery is stabilizing” Said Nela Richardson Chief Economist, ADP.

Service-providing employment gained 213,000 jobs, driven by gains in the Leisure/ hospitality and Trade/transportation/utilizes sectors, which grew by 224,000 and 62,000 jobs respectively.

Goods-producing employment lost 86,000 jobs in November. The manufacturing sector lost 100,000 jobs and construction lost 2,000 jobs. Natural resources/mining gained 16,000 jobs.

Read the ADP report.

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