Private companies in the United States add 534,000 jobs in November

Private companies in the United States add 534,000 jobs in November
December 2, 2021, 7:33 am

Company building/Pixabay

The Xinhua reported that payroll data company Automatic Data Processing (ADP) reported Wednesday, private companies in the United States added 534,000 jobs in November, indicating a renewed momentum in the labor market recovery.

"The labor market recovery continued to power through its challenges last month," said Nela Richardson, chief economist at ADP, noting that November's job gains brought the three-month average to 543,000 monthly jobs, "a modest uptick" from the job pace earlier this year.

Business meeting/Pixabay

Job gains have eclipsed 15 million since the recovery began, though 5 million jobs are short of pre-pandemic levels, according to Richardson.

Richardson added that it's too early to tell if the Omicron variant of COVID-19 could potentially slow the jobs recovery in coming months.

Service sector saw a job gain of 424,000 in November, with 136,000 jobs added in leisure and hospitality, according to the report produced by the ADP Research Institute in collaboration with Moody's Analytics.

Large firms hired 277,000 workers, medium-sized businesses hired about 142,000, while small companies added some 115,000 employees, the report showed, indicating an unbalanced recovery across different company sizes.

Source: xinhua

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