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ADP Report: U.S. Adds 118,000 Jobs

December 05 2012

The U.S. added 118,000 nonfarm private-sector jobs in November from the previous month, according to the national employment report released by Automatic Data Process Inc. (NASD: ADP). However, the number of new jobs added in October was revised down by 1,000 to 157,000 jobs.

Service-providing jobs increased by 114,000 in November. The goods-producing sector added 4,000 jobs.

“Superstorm Sandy wreaked havoc on the job market in November, slicing an estimated 86,000 jobs from payrolls. 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,” said Mark Zandi, chief economist of Moody’s Analytics, which produces the report for ADP. “This is especially impressive given the uncertainty created by the presidential election and the fast-approaching fiscal cliff. Businesses appear to be holding firm on their hiring and firing decisions.”

The report is based on an anonymous subset of 406,000 ADP clients in the U.S. which employ more than 23 million U.S. workers.

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