ADP Reports US Added 534K Jobs In November With Service Sector Adding 424K

Private payroll company ADP reported that US jobs grew 534,000 in November. The US Labor Department will report It’s jobs report on Friday. October added downwardly revised 570K increase with market expectations Adding 525K.


ADP US November 2021 Employment Report

ADP report private businesses in the United States hired 534 thousand workers in November 2021, compared with a downwardly revised 570 thousand increase in October and beating market expectations of a 525 thousand rise, as the labor market continued to show signs of a solid recovery amid the ongoing economic rebound. 

Where ADP Saw New Jobs

  • Goods +110K
  • Services +424K
  • Small firms (less than 50 employees) +115 K
  • Medium firms (50 – 499 employees) +142K
  • Large firms (greater than 499 employees) +277K
  • Leisure and hospitality +136K
  • Trade and transportation +78K
  • Education/health services +55K
  • Construction +52K
  • Manufacturing+50K
  • Information +10K
  • Financial activities +13K
  • Professional business services +110K
  • Other services +22K
  • Natural resources and mining +7K
United States ADP Employment Change
United States ADP Employment Change

The ADP count comes two days ahead of the government’s  nonfarm payrolls report, which includes government jobs that ADP does not count. The nonfarm payroll estimate for Friday is at 570K

The Fed Chair Powell came out with a more hawkish tone as expected at the last FOMC. Federal Reserve President Powell and other Fed Governors have admitted they are unsure of the path for wages and inflation. The wages data gives us indications of the FOMC plans on rates into 2021 and 2022.

Source: ADP, TradersCommunity Data, BLS

From The TraderCommunity Research Desk