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The U.S. private sector added 103,000 jobs in November, according to ADP research

The U.S. private sector added 103,000 jobs in November, according to ADP research

Credits: Clem Onojeghuo/Unsplash

The U.S. private sector added 103,000 jobs in November, excluding the rural sector, according to a report released by Automated Data Processing (ADP) and Macroeconomic Consultants.

Analysts expect 128,000 jobs to be created. The number of vacancies created in October was revised to 106 thousand.

The data indicated that small firms with fewer than 50 employees opened 6,000 vacancies in November. Mid-sized firms (50 to 499 employees) created 71,000 vacancies and large firms with 500 or more employees cut 3,000 vacancies.

In manufacturing, sectors including manufacturing, construction and mining shed 14,000 jobs, while the services sector added 117,000. Among industrial sectors, manufacturing shed 15,000 jobs in November, extraction and mining companies added 5,000 jobs, and construction shed 4,000 jobs.

“Restaurants and hotels have been the biggest job creators during the post-pandemic recovery,” said Nela Richardson, chief economist at ATP. But that momentum has lagged, and a return to leisure and hospitality trends suggests the overall economy will see more modest hiring and wage growth in 2024.

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