US ADP Employment Report Misses Expectations
Today’s data showed that US companies slowed the pace of job creation in November, as the labor market indicated more signs of tightening. According to the report of Automatic Data Processing (ADP), US private employers added 179.000 jobs in November. Economists had expected the ADP report to show a gain of 196.000 jobs.
October private payrolls were revised down to an increase of 225.000 from the previously reported 227.000.
The ADP report comes ahead of the Labor Department's more comprehensive nonfarm payrolls 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.