Alison BloomerPrivate sector employment increased by 190,000 jobs from October to November, according to the November ADP National Employment Report.
According to ADP, small private-sector businesses added 50,000 jobs in November, medium businesses added 99,000 and large businesses added 41,000. Most of those gains were in the service sector with 155,000 jobs added. There were 36,000 added for goods producers and 40,000 jobs in manufacturing.
The ADP National Employment Report is produced by the ADP Research Institute in collaboration with Moody's Analytics. The report, which is derived from ADP's actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis.
"Job market is red hot"
Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said: "The labor market continues to grow at a solid pace. Notably, manufacturing added the most jobs the industry has seen all year. As the labor market continues to tighten and wages increase it will become increasingly difficult for employers to attract and retain skilled talent."
Coronavirus affects markets
Mark Zandi, chief economist of Moody's Analytics, said, "The job market is red hot, with broad-based job gains across industries and company sizes. The only soft spots are in industries being disrupted by technology, brick-and-mortar retailing being the best example. There is a mounting threat that the job market will overheat next year."
