by Bill McBride on 11/30/2016 08:19:00 AM
Wednesday, November 30, 2016
Private sector employment increased by 216,000 jobs from October to November according to the November ADP National Employment Report®. ... The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.This was well abvoe the consensus forecast for 160,000 private sector jobs added in the ADP report.
Mark Zandi, chief economist of Moody’s Analytics, said, “Businesses hired aggressively in November and there is little evidence that the uncertainty surrounding the presidential election dampened hiring. In addition, because of the tightening labor market, retailers may be accelerating seasonal hiring to secure an adequate workforce to meet holiday demand, although total expected seasonal hiring may be no higher than last year’s.”
The BLS report for November will be released Friday, and the consensus is for 170,000 non-farm payroll jobs added in November.
Posted by Bill McBride on 11/30/2016 08:19:00 AM