The nonfarm private sector lost 32,000 jobs in November, and annual pay was up 4.4% year-over-year, according to the ADP National Employment Report. This follows an upward revision of October’s report from 42,000 jobs to 47,000.
Small businesses with fewer than 50 employees lost 120,000 jobs. Medium-sized businesses with 50–499 employees gained 51,000 jobs, and large businesses gained 39,000 jobs.
“Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment,” said Dr. Nela Richardson, chief economist, ADP. “And while November’s slowdown was broad-based, it was led by a pullback among small businesses.”
Service-providing employment lost 13,000 jobs, driven by professional/business services lost 26,000, followed by information services which lost 20,000. However, education/health services gained 33,000 jobs.
Goods-producing employment lost 19,000 jobs. Manufacturing and construction lost 18,000 and 9,000, respectively. However, natural resources/mining gained 8,000 jobs.
Read the ADP report.
