Economy

Private payrolls post better-than-expected growth of 534,000 in November

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Companies added jobs at a robust pace in November despite worries about rising inflation and the threat that the pandemic could slow growth into the winter months, according to a report Wednesday from payroll processing firm ADP.

Private hiring increased by 534,000 for the month, better than the Dow Jones estimate of 506,000 in a labor market that appears to be getting tighter. The total was a decline from the October growth of 570,000, which was revised lower by 1,000.

Big business led job creation by company size, but it was hospitality and leisure that led in the sectors.

The industry that includes bars, restaurants, hotels and similar businesses saw a gain of 136,000, part of the…



Source cnbc.com

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