ADP Reports 216,000 Increase in November Payrolls
November 30 2016 - 8:50AM
Dow Jones News
Private-sector hiring continued at a strong pace in November,
suggesting employers shrugged off uncertainties in the midst of the
presidential election and added to their ranks ahead of the holiday
season.
Private payrolls across the nation rose by 216,000 from October
to November, said payroll processor Automatic Data Processing Inc.
and forecasting firm Moody's Analytics, exceeding the 170,000
expected by economists polled by The Wall Street Journal. The
report is based on data collected from ADP clients in addition to
lagged government figures.
Large- and medium-size business made up a large chunk of the
payroll additions, notching gains of 90,000 and 89,000,
respectively. Small businesses, defined as those with 49 or fewer
employees, added 37,000 to payrolls.
Ahu Yildirmaz, vice president and head of the ADP research
institute, said growth was driven primarily by consumer-driven
industries such as retail and hospitality.
"Overall, consumers are feeling confident and are driving the
strong performance we currently see in the job market," Ms.
Yildirmaz said.
Mark Zandi, chief economist of Moody's Analytics, said there was
little indication hiring was dented by the presidential
election.
The end of the November kicked off the holiday-shopping season
with Black Friday and Cyber Monday deals. Mr. Zandi said retailers
could 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 Labor Department's job report for November is expected
Friday. Economists surveyed by the Journal expect employers added
180,000 nonfarm jobs with the employment rate holding steady.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
November 30, 2016 09:35 ET (14:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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