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Private employers hired at a slower-than-expected pace in November, indicating that the labor market recovery from the coronavirus crisis is slowing amid a resurgence of cases, according to the published ADP national employment report Wednesday.
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The report showed that companies created 307,000 new jobs last month, significantly missing the 410,000 job increase economists polled by Refinitiv predicted.
“While November saw employment gains, the pace continues to slow,” Ahu Yildirmaz, vice president and co-director of the ADP Research Institute, said in a statement. “Job growth has remained positive in all industries and all sizes.
November hires were spread across most industries, with the biggest gains being in leisure and hospitality, one of the industries hardest hit by the pandemic. The sector created 95,000 jobs. Education and health services created 69,000 jobs, while professional and business services added 55,000. Trade, transport and public services increased by 31,000 people.
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Mid-sized businesses dominated industries by size, adding 139,000 jobs last month in companies employing between 50 and 499 workers. Large businesses created 58,000 jobs and small businesses 110,000 employees.
While the data is generally a good indicator of what to expect in the Ministry of Labor’s more closely watched jobs report, ADP’s figure has consistently missed the government’s tally since the start of the pandemic in the United States. half-March. (In June, for example, ADP initially said private employers had created 2.37 million jobs – well below the 4.8 million reported by the U.S. government. It also said the economy had lost 2 , 7 million jobs in May, while the Ministry of Labor reported a gain of 2.5 million).
The Department of Labor’s employment report is expected to show that the US economy added 481,000 jobs last month, down from the gain of 638,000 in October. Analysts predict that unemployment will drop slightly to 6.8% from 6.9%.
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