By Joshua Jamerson
Private-sector hiring continued at a strong pace in November, suggesting employers shrugged off uncertainties in the midst of the presidential election and added to their ranks ahead of the holiday season.
Private payrolls across the nation rose by 216,000 from October to November, said payroll processor Automatic Data Processing Inc. and forecasting firm Moody's Analytics, exceeding the 170,000 expected by economists polled by The Wall Street Journal. The report is based on data collected from ADP clients in addition to lagged government figures.
Large- and medium-size business made up a large chunk of the payroll additions, notching gains of 90,000 and 89,000, respectively.Small businesses, defined as those with 49 or fewer employees, added 37,000 to payrolls.
Ahu Yildirmaz, vice president and head of the ADP research institute, said growth was driven primarily by consumer-driven industries such as retail and hospitality.
"Overall, consumers are feeling confident and are driving the strong performance we currently see in the job market," Ms. Yildirmaz said.
Mark Zandi, chief economist of Moody's Analytics, said there was little indication hiring was dented by the presidential election.
The end of the November kicked off the holiday-shopping season with Black Friday and Cyber Monday deals. Mr. Zandi said retailers could be accelerating seasonal hiring "to secure an adequate workforce to meet holiday demand, although total expected seasonal hiring may be no higher than last year's."
The Labor Department's job report for November is expected Friday. Economists surveyed by the Journal expect employers added 180,000 nonfarm jobs with the employment rate holding steady.
Write to Joshua Jamerson at firstname.lastname@example.org
(END) Dow Jones Newswires
November 30, 2016 09:23 ET (14:23 GMT)
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