The employment
report published by Automatic Data Processing Inc. (ADP) and Moody's Analytics on
Wednesday showed that U.S. private employers added 146,000 jobs in November. This was the lowest
number in three months.
Economists had predicted
an addition of 150,000 new jobs for November.
Meanwhile, the October
figure saw a downward
revision to 184,000 from the originally reported 233,000.
According to
the report, the November
job advance was led by higher hiring in education and health services (+50,000),
construction (+30,000), trade, transportation and utilities (+28,000), other
services (+20,000), and professional and business services (+18,000).
At the same time, manufacturing (-26,000) was the only sector that shed
jobs last month.
The report also revealed that annual pay increases
accelerated in November. The pay gains for job-stayers increased from 4.7 per
cent YoY in October to 4.8 per cent YoY, recording its first acceleration in 25 months, while those for job-changers
rose from 6.7 per cent in October to 7.2 per cent YoY.