US private sector adds fewer jobs than expected in November - ADP
Private sector employment in the US rose less than expected in November, according to figures released on Wednesday by ADP.
Employment increased by 146,000 from October, versus expectations for a 163,000 jump. October’s gain was revised down from 233,000 to 184,000.
Small businesses with fewer than 50 employees shed 17,000 jobs, while medium businesses with between 50 and 499 employees added 42,000 jobs.
Large businesses with more than 500 employees created an additional 120,000 jobs.
The service sector added 140,000 jobs, while the goods-producing sector saw a 6,000 increase.
The data also showed that year-over-year pay gains for job-stayers edged up for the first time in 25 months, to 4.8%. For job-changers, pay gains rose to 7.2%.
Nela Richardson, chief economist at ADP, said: "While overall growth for the month was healthy, industry performance was mixed.
"Manufacturing was the weakest we've seen since spring. Financial services and leisure and hospitality were also soft."