Private-sector employers stateside accelerated their hiring last month, adding 217,000 net new jobs in what amounts to their best performance since June. That word Wednesday from payroll firm Automatic Data Processing Inc.
The improvement topped an upwardly-revised 196,000 in October and was another positive economic signal, adding to the likelihood that the U.S. Federal Reserve will hike a key interest rate this month.
The ADP figure exceeded economists' expectations and indicated Friday's U.S. Labor Department jobs report should be solid enough for central bank policymakers to nudge up the so-called federal funds rate for the first time in nearly a decade.
Economists expect Friday's government report, covering the private and public sectors, to show the American economy added 190,000 net new jobs in November, down significantly from October's strong 271,000 net new jobs.
The unemployment rate is forecast to hold steady at 5%, the lowest since 2008.
ADP's figures are viewed as an indicator of the broader department report, though the numbers can vary widely.
October's ADP report initially estimated job growth at 182,000, lower than the 268,000 private-sector figure reported by Washington.
Related Stories
