November private payrolls rose by 534,000 topping expectations: ADP
Source: Yahoo! Finance
November private payrolls rose by 534,000 topping expectations: ADP
Emily McCormick · Reporter
Wed, December 1, 2021, 8:15 AM
U.S. private employers brought back more jobs than expected in November, with companies gradually filling widespread vacancies as the economic recovery moved further along.
Private payrolls grew by 534,000 in November compared to October, ADP said in its closely watched monthly report. Consensus economists were looking for private payrolls to rise by 525,000, according to Bloomberg data. Private payrolls had grown by 570,000 in October, according to ADP's revised monthly figure.
Private-sector employers have added back jobs on net in every month so far in 2021, reflecting a steady improvement in the labor market as the broader economy marched back toward pre-pandemic conditions. The latest ADP data did not capture the period when concerns over the newly discovered Omicron variant first unfolded at the end of November, but some economists suggested its emergence would not likely seriously derail the economic recovery.
"Since the pandemic, each COVID wave has had less of an impact on the economy. For example, during the COVID wave that peaked in January, there was a meaningful slowdown in restaurant traffic. In the most recent wave, there wasn’t a slowdown," Neil Dutta, head of economics at Renaissance Macro Research, wrote in a note Tuesday. He added he was "skeptical that recent concerns over coronavirus will spill into deeper issues for the U.S. economy."
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Read more: https://finance.yahoo.com/news/november-private-payrolls-adp-employment-131551829.html
Private-sector employment increased by 534,000 from October to November, on a seasonally adjusted basis.
https://adpemploymentreport.com/2021/November/NER/docs/ADP-NATIONAL-EMPLOYMENT-REPORT-November2021-Final-Press-Release.pdf
ADP National Employment Report: Private Sector Employment Increased by 534,000 Jobs in November ROSELAND, N.J. - December 1, 2021 - Private sector employment increased by 534,000 jobs from October to November according to the November ADP National Employment ReportTM. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute in collaboration with Moody's Analytics. The report, which is derived from ADP's actual data of those who are on a company's payroll, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
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Or Thank You Brandon
Dems are the real jobs creating party
