Wednesday, December 06, 2017

ADP: Private Employment increased 190,000 in November

by Bill McBride on 12/06/2017 08:23:00 AM

From ADP:

Private sector employment increased by 190,000 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.
...
“The labor market continues to grow at a solid pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Notably, manufacturing added the most jobs the industry has seen all year. As the labor market continues to tighten and wages increase it will become increasingly difficult for employers to attract and retain skilled talent.”

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market is red hot, with broad-based job gains across industries and company sizes. The only soft spots are in industries being disrupted by technology, brick-and-mortar retailing being the best example. There is a mounting threat that the job market will overheat next year."
This was slightly below the consensus forecast for 192,000 private sector jobs added in the ADP report. 

The BLS report for November will be released Friday, and the consensus is for 185,000 non-farm payroll jobs added in November.