The US private sector added 179,000 jobs in November, according to the ADP National Employment Report. The gain compares to an increase of 225,000 jobs in October and an increase of 209,000 in September.
“Job growth is strong, but has likely peaked,” said Mark Zandi, chief economist of Moody’s Analytics. “This month’s report is free of significant weather effects and suggests slowing underlying job creation. With very tight labor markets, and record unfilled positions, businesses will have an increasingly tough time adding to payrolls.”
Large businesses added 13,000 jobs, while midsize firms added 119,000 and small companies increased employment by 46,000.
Service-providing jobs rose by 163,000, which included 59,000 jobs added in professional/business services and 49,000 new jobs in education/health services. The information sector posted the only decrease, down by 1,000 jobs.
The good-producing sector added 16,000 jobs, including 10,000 in construction.
“Although the labor market performed well, job growth decelerated slightly,” said Ahu Yildirmaz, VP and co-head of the ADP Research Institute. “Midsized businesses added nearly 70% of all jobs this month. This growth points to the midsized businesses’ ability to provide stronger wages and benefits. It also suggests they could be more insulated from the global challenges large enterprises face.”
Source: Staffing Industry Analysts