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Financial News: U.S. Private Sector Employment Jumps Slightly More Than

U.S. Private Sector Employment Jumps Slightly More Than Expected In November

12/01/2021 - 08:21:00 (RTTNews)

(RTTNews) - A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by slightly more than expected in the month of November.

ADP said private sector employment shot up by 534,000 jobs in November after surging by a revised 570,000 jobs in October.

Economists had expected private sector employment to jump by about 525,000 jobs compared to the addition of 571,000 jobs originally reported for the previous month.

"November's job gains bring the three month average to 543,000 monthly jobs added, a modest uptick from the job pace earlier this year," said ADP chief economist Nela Richardson.

She added, "Job gains have eclipsed 15 million since the recovery began, though 5 million jobs short of pre-pandemic levels."

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