Market news
04.12.2019, 13:21

U.S. private employers add 67,000 jobs in November - ADP

The employment report prepared by Automatic Data Processing Inc. (ADP) and Moody's Analytics showed on Wednesday the U.S. private employers added 67,000 jobs in November.

Economists had expected a gain of 140,000.

The increase for October was revised down to 121,000 from the originally reported 125,000.

“In November, the labor market showed signs of slowing,” noted Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “The goods producers still struggled; whereas, the service providers remained in positive territory driven by healthcare and professional services. Job creation slowed across all company sizes; however, the pattern remained largely the same, as small companies continued to face more pressure than their larger competitors.”

Meanwhile, Mark Zandi, chief economist of Moody’s Analytics, said, “The job market is losing its shine. Manufacturers, commodity producers, and retailers are shedding jobs. Job openings are declining and if job growth slows any further unemployment will increase.”

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