Private payrolls grew by 146,000 in November, less than expected, ADP says
Source: CNBC
Published Wed, Dec 4 2024 8:15 AM EST Updated 2 Min Ago
Private payrolls growth was less than expected in November, reflecting a slowing labor market, according to a report Wednesday from ADP. Companies added 146,000 on the month, below the downwardly revised 184,000 in October and less than the Dow Jones estimate for 163,000.
Education and health services led job creation, adding 50,000 positions on the month. That was followed by construction with 30,000 new jobs, trade, transportation and utilities with 28,000 additions, and the other services category, which contributed 20,000 jobs.
Manufacturing lost 26,000 positions on the month. Businesses with fewer than 50 employees also reported a drop of 17,000.
Wage growth accelerated, by 4.8%, a faster gain since October, the first time that has happened in 27 months.
Read more: https://www.cnbc.com/2024/12/04/private-payrolls-grew-by-146000-in-november-less-than-expected-adp-says.html
This is (3rd party) ADP's report of "private payrolls". The government's UE release comes out this Friday.
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