Tags: adp | jobs | private | sector

ADP: Private Sector Adds 179,000 Jobs, Misses Forecasts

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Thursday, 06 December 2018 08:43 AM

U.S. private employers added 179,000 jobs in November, shy of economists' expectations, a report by a payrolls processor showed on Thursday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 195,000 jobs.

Also, October private payrolls were revised down to an increase of 225,000 from the previously reported 227,000.

The report, delayed by a day from its usual release on Wednesday because of the national day of mourning for former President George H. W. Bush, is jointly developed with Moody's Analytics.

The ADP figures come ahead of the government's much more comprehensive labor market report on Friday, which includes both public and private sector employment.

That report is expected to show a gain in overall nonfarm payrolls of 200,000 in November based on a Reuters poll of analysts, and a rise in private payrolls of 200,000. In October, total U.S. employment rose by 250,000 and private payrolls by 246,000.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome. 

© 2018 Thomson/Reuters. All rights reserved.

   
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Economy
U.S. private employers added 179,000 jobs in November, shy of economists' expectations, a report by a payrolls processor showed on Thursday.
adp, jobs, private, sector
181
2018-43-06
Thursday, 06 December 2018 08:43 AM
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