Private-sector employment increased by 179,000 in November, on a seasonally adjusted basis, ADP estimated Thursday.
In October, ADP says 225,000 jobs were added, compared to its previous estimate of 227,000.
Economists surveyed by IFR Markets projected a 195,000 job gain for November.
“Although the labor market performed well, job growth decelerated slightly,” according to Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “”Midsized businesses added nearly 70 percent of all jobs this month. This growth points to the midsized businesses’ ability to provide stronger wages and benefits. It also suggests they could be more insulated from the global challenges large enterprises face.”
“Job growth is strong, but has likely peaked. This month’s report is free of significant weather effects and suggests slowing underlying job creation,” said Mark Zandi, chief economist of Moody’s Analytics. “With very tight labor markets, and record unfilled positions, businesses will have an increasingly tough time adding to payrolls.”
