U.S. employers add 189,000 jobs
U.S. employers added 189,000 jobs in November, more than triple the number many economists had expected, a private payroll report said Wednesday.
The increase -- compared with the 50,000 to 60,000 many economists had forecast -- followed an upwardly revised estimate of 119,000 jobs created in October, 13,000 more than calculated a month ago, ADP Employer Services said.
The three-month average employment change for September through November was 123,000, up from 43,000 during the three-month period from July through September.
Two sectors hard hit by the U.S. subprime mortgage financial crisis -- construction and finance -- stabilized in November, ADP said.
The construction decline of 6,000 jobs was the smallest since January, said ADP, which produces its report with Macroeconomic Advisers LLC of St. Louis.
Finance employment, which fell 16,000 from July through October, grew 10,000 in November, ADP said.
Overall goods-producing industries lost 8,000 jobs in November, ADP said. Service providers added 197,000 workers.
Companies employing more than 499 workers added 30,000 jobs, those with 50 to 499 employees added 82,000 and small companies increased payrolls 77,000.
The ADP figures, which do not include government hiring, come two days before a U.S. Labor Department report on the non-farm payroll growth. Economists forecast November job growth of 77,500, down from October's 166,000 increase. // Copyright 2007 by United Press International
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