Private businesses in the US added 146K workers to their payrolls in November 2024, the least in three months, following a downwardly revised 184K rise in October, and slightly below forecasts of 150K.
The service-producing sector added 140K jobs, led by education/health services (50K); trade/transportation/utilities (28K); professional/business services (18K); leisure/hospitality (15K); financial activities (5K) and information (4K).
Meanwhile, the goods-producing sector added 6K jobs, of which 30K in construction and 2K in natural resources/mining while manufacturing shed 26K jobs. "While overall growth for the month was healthy, industry performance was mixed.
Manufacturing was the weakest we've seen since spring. Financial services and leisure and hospitality were also soft", said Nela Richardson, chief economist, ADP.
Source: Trading Economics
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