U.S. Adds Jobs at Slower Pace in November Due to Sandy, ADP Shows
Tweet
Share
E-mail
The U.S. added 118,000 private sector jobs in November, according to the ADP National Employment Report. This was just below economics expectations of a gain of 125,000 and down versus last month's gain of 157,000 jobs. Superstorm Sandy is said to have shaved an estimated 86,000 jobs from payrolls in the month.
Small business added 19,000 jobs, Medium Business added 33,000, while Large Business led the way adding 66,000 jobs.
Manfuactuing lost 16,000 jobs during the month, while financial activies added 13,000 and construction added 23,000.
"Superstorm Sandy wreaked havoc on the job market in November, slicing an estimated 86,000 jobs from payrolls," said Mark Zandi, Chief Economist of Moody’s Analytics. "The manufacturing, retailing, leisure and hospitality, and temporary help industries were hit particularly hard by the storm. Abstracting from the storm, the job market turned in a good performance during the month."
Small business added 19,000 jobs, Medium Business added 33,000, while Large Business led the way adding 66,000 jobs.
Manfuactuing lost 16,000 jobs during the month, while financial activies added 13,000 and construction added 23,000.
"Superstorm Sandy wreaked havoc on the job market in November, slicing an estimated 86,000 jobs from payrolls," said Mark Zandi, Chief Economist of Moody’s Analytics. "The manufacturing, retailing, leisure and hospitality, and temporary help industries were hit particularly hard by the storm. Abstracting from the storm, the job market turned in a good performance during the month."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- US economic activity expanded slightly in recent weeks, Fed says
- U.S. homebuilder confidence holds steady in April
- Business Inventories (Feb) 0.4% vs 0.4% Expected
Create E-mail Alert Related Categories
Economic DataRelated Entities
ADP Employment ReportSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
