08:42
The 536,000 increase in US private payrolls last month supports Federal Reserve chair Jerome Powell’s comment yesterday that the Fed might wrap up its QE scheme earlier than planned, says Paul Ashworth of Capital Economics.
But, he predicts jobs growth will ease back soon, as rising Delta infection rates in the Northeast and Midwest begin to weigh on demand a little.
08:27
American companies added over half a million more employees to their payrolls last month, as the labor market continued to recover.
Payroll operator ADP reports that private payrolls increased by 534,000 for November, ahead of estimates, but down on the 570,000 added in October.
Services firms added 424,000 jobs, including 136,000 at leisure and hospitality companies, 110,000 at professional/business services firms and 78,000 across trade, transportation and utilities.
Goods-producing sectors hired 110,000 staff, including 52,000 in construction and 50,000 in manufacturing.
It suggests the US jobs market was solid last month, in the face of rising inflation, supply problems, and fears that the pandemic could slow growth into the winter months if infections rise.
The official US government measure of employment, the Non-Farm Payroll report, is due on Friday, and expected to show around 550,000 jobs were created last month.
08:01
In the US, applications for a new mortgage fell sharply last week, as a jump in borrowing costs deterred people…
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