US ADP Report: November proves to be weaker for employment

Today ADP employment numbers were released from the US for the month of November.

ADP number shows the US labor markets remains strong but hints at some weakness.

There are two things to note in the headline that,

  • ADP report indicates that the economy remains strong in terms of jobs gain but close monitoring needed as data suggests weakness
  • October payroll saw a revision, where the headline was revised down to 225,000 (from 227,000).

Key highlights –

  • Non-farm private sector employment grew at 179,000 in November, the median expectation was for 195,000.
  • The small business sector added 46,000 jobs, compared to 29,000 gain last month.
  • Mid-sized companies added 119,000 jobs compared to last month’s 96,000 jobs.
  • The large sector added just 13,000 compared to last month’s 102,000 jobs.
  • Manufacturing sector payroll registered 4,000 jobs gain compared to 17,000 jobs gain last month.
  • 16,000 jobs were gained in the goods-producing sector, compared to last month’s 38,000 jobs gain.
  • The construction sector added 10,000 jobs, compared to last month’s 17,000 jobs gain.
  • Services sector remains the main job provider as payrolls added 163,000 people in November. October gain was 189,000.

Dollar index is currently trading at 96.89, down 0.12 percent for the day so far.

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