Companies in the private sector added 146,000 jobs in November, payroll processing firm ADP said on Wednesday.
The figure is below economists’ estimates of 150,000 jobs and much lower than the prior month’s revised reading of 184,000.
“While overall growth for the month was healthy, industry performance was mixed,” said Nela Richardson, ADP’s chief economist. “Manufacturing was the weakest we’ve seen since spring. Financial services and leisure and hospitality were also soft.”
PRIVATE SECTOR JOB GROWTH SURGES IN OCTOBER, ADP SAYS
The education and health services sector added 50,000 positions, leading job creation in November. Construction added 30,000 jobs; trade, transportation, and utilities contributed 28,000; and other services added 20,000.
The only sector to report losses last month was manufacturing, which saw a decline of 26,000.
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Large businesses — those with 500 or more employees — added 120,000 jobs in the month. Businesses with 50 to 499 employees hired 42,000 workers. Establishments with fewer than 50 employees lost 17,000 jobs.
Wage growth in November edged higher to 4.8% on an annual basis, the first increase in 25 months, ADP said.
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