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Financial News: U.S. Private Sector Employment Increases By 190,00 Jobs

U.S. Private Sector Employment Increases By 190,00 Jobs In November

12/06/2017 - 09:07:00 (RTTNews)

(RTTNews) - Employment in the U.S. private sector increased by slightly more than expected in the month of November, payroll processor ADP revealed in a report released on Wednesday.

ADP said private sector employment climbed by 190,000 jobs in November after surging up by 235,000 jobs in October. Economists had expected an increase of about 185,000 jobs.

"The job market is red hot, with broad-based job gains across industries and company sizes," said Mark Zandi, chief economist of Moody's Analytics.

"The only soft spots are in industries being disrupted by technology, brick-and-mortar retailing being the best example," he added. "There is a mounting threat that the job market will overheat next year."

The report said the service-providing sector added 155,000 jobs, while employment in the goods-producing sector rose by 36,000 jobs.

Employment at medium-sized businesses climbed by 99,000 jobs, and employment at small and large businesses increased by 50,000 jobs and 41,000 jobs, respectively.

On Friday, the Labor Department is scheduled to release its more closely watched monthly jobs report, which includes both public and private sector jobs.

Employment is expected to increase by 198,000 jobs in November after surging up by 261,000 jobs in October. The unemployment is expected to hold at 4.1 percent.

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