Meredith Whitney Advisory Group CEO explains the current state of the stock market in “Craman Countdown.''
Payroll company ADP said Wednesday that private sector companies added 146,000 jobs in November.
This figure is lower than the 150,000 jobs expected by economists and well below last month's revised figure of 184,000.
“Overall growth was strong for the month, but industry performance was mixed,” said Nella Richardson, chief economist at ADP. “Manufacturing was the weakest since spring. Financial services and leisure and hospitality were also weak.”
of Education and medical services sector It led job creation in November, adding 50,000 positions. Construction added 30,000 jobs. Trade, Transport and Public Works contributed 28,000. Other services add 20,000.
The only sector to report a loss last month was manufacturing, which fell by 26,000 jobs.
Add large companies (companies with 500 or more employees) 120,000 jobs per month. Companies with 50 to 499 employees employed 42,000 people. 17,000 jobs were lost in establishments with fewer than 50 employees.
According to ADP, wage growth rose slightly in November to an annual rate of 4.8%, the first increase in 25 months.
