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ADP report shows steady private sector job growth

December 03, 2014

US private sector employment rose by 208,000 jobs in November, according to the ADP national employment report produced by Automatic Data Processing Inc. (NASD: ADP) in collaboration with Moody’s Analytics. Small businesses continued to drive job gains, adding almost half the total for the month.

Small businesses added 101,000 jobs in November, according to the report. Midsize businesses added 65,000 jobs and large businesses added 42,000 jobs.

By sector, the service-providing sector added 176,000 jobs, and the goods-providing sector added 32,000 jobs.

“Steady as she goes in the job market,” said Mark Zandi, chief economist of Moody’s Analytics. “Monthly job gains remain consistently over 200,000. At this pace the unemployment rate will drop by half a percentage point per annum. The tightening in the job market will soon prompt acceleration in wage growth.”