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US private sector adds 146,000 jobs in November: ADP

US private sector adds 146,000 jobs in November: ADP

Amrita Ahuja
| December 4, 2024
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Private-sector employment in the US rose by 146,000 jobs in November, according to the ADP National Employment Report released today. More than half the gains came from the education/health and construction sectors, up by 50,000 and 30,000 jobs, respectively.

The November increase marked a decline from a downwardly revised 184,000 jobs added in October. ADP noted the November employment estimates were informed by the latest Quarterly Census of Employment and Wages data, which contributed to the October revision.

Economists polled by Reuters had forecast private employment increasing by 150,000 positions.

“While overall growth for the month was healthy, industry performance was mixed,” Nela Richardson, chief economist at ADP, said in a press release. “Manufacturing was the weakest we’ve seen since spring. Financial services and leisure and hospitality were also soft.”

Manufacturing was the only sector to report job losses.

The report also found pay gains accelerated year over year in November. Pay gains for those staying in their jobs stood at 4.8%, rising for the first time in 25 months, while pay gains for job changers rose to 7.2% from 6.7% in October.

Here is the change in private-sector employment by industry sector:

  • Goods-producing, up 6,000
    • Natural resources/mining, up 2,000
    • Construction, up 30,000
    • Manufacturing, down 26,000
  • Service-providing, up 140,000
    • Trade/transportation/utilities, up 28,000
    • Information, up 4,000
    • Financial activities, up 5,000
    • Professional/business services, up 18,000
    • Education/health services, up 50,000
    • Leisure/hospitality, up 15,000
    • Other services, up 20,000

Looking at job growth by company size, small firms lost 17,000 jobs, midsize firms added 42,000 and large firms gained 120,000.

Regionally, the South led by adding 61,000 jobs, followed by the Northeast with an increase of 38,000. The Midwest added 31,000, while the West added 29,000.