Private sector employment increased by 189,000 in November, according to a report by payroll processor ADP, which sent stocks sharply higher on Wednesday.
ADP found that small businesses of one to 49 employees added 77,000 jobs, and midsized businesses of 50 to 499 employees added 82,000 jobs. Large businesses with more than 499 employees added 30,000 new jobs, reversing five consecutive monthly declines.
The largest gains came in the service-providing sector, where the economy added 197,000 jobs. However, the goods-producing sector saw a decline of 8,000 jobs and the manufacturing industry saw a reduction of 5,000 jobs.
The three-month change in employment for September through November was 123,000, up from 43,000 from July through September.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access