US private sector added more jobs than expected

The private sector in the US has created 217 thousand new jobs in November, according to ADP private payroll report, that was released today.

The expectations of economists pointed slight increase to 190 thousand new jobs.
The data for October were revised upward to 196 thousand.
The results are based on surveys among companies with nearly 24 million employees. Usually the growth in hiring leads to promotion and salary. This in turn stimulates consumption, which is the key factor for the economy.
On Friday is expected publication of the report on employment outside agriculture for November, which is closely followed by the Federal Reserve. In October was recorded sharp growth in new hires, which increased expectations that the central bank will raise the benchmark interest rate from near zero.

Following the publication of the data, the dollar rose against the euro to 1.0580.

Data break-down

Payrolls for businesses with 49 or fewer employees increased by 81,000 jobs in November, down from October’s 91,000, further specifics showed.

Employment among companies with 50-499 employees increased by 62,000 jobs, a bit less than the 67,000 added last month. Employment at large companies – those with 500 or more employees – came in double the upwardly revised 37,000 jobs added in October at 74,000 for the month. Companies with 500-999 added 57,000 jobs, the largest gain for this segment in the history of the report.

And finally, firms with over 1,000 employees gained 17,000 jobs, after adding 28,000 in October.

As for the sectors, goods-producing employment rose by 13,000 jobs in November,down from 22,000 the previous month, while the construction industry added16,000 jobs after gaining over 30,000 in each of the two previous months.Service-providing employment rose by 204,000 jobs in November, a strong increase from an upwardly revised 174,000 in October