U.S. private-sector job growth unexpectedly slowed to its weakest pace in six months in November, according to information released on Wednesday.
The latest national employment report from ADP revealed U.S. companies’ payrolls rose by 67,000 last month. The median forecast among economists called for a gain of 140,000 jobs, with estimates ranging from 120,000 to 188,000.
It was the lowest monthly gain since May when just 46,000 jobs were created, the fewest since 2010, and continues a trend of decelerating job growth that has taken hold this year. By ADP’s measure, American firms have added an average of about 159,000 jobs a month in the last 12 months, the lowest since 2011 and down sharply from an average of more than 200,000 a month at the start of 2019.
Private payroll gains in the month earlier were revised down to 121,000 from an originally reported 125,000 increase.
All of November’s job gains came from the services sector, which added 85,000 jobs, down from 135,000 in October and the fewest since May.
ADP figures come 48 hours ahead of Friday's non-farm payroll numbers, covering both private - and public-sector jobs. Employment for November is expected to have risen by 180,000 after climbing by 128,000 in October.
