Read More: OECD warns inflation surge and Omicron could undermine global
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.
alex
(@flyalex666)Looks like the US job market is healing.
ADP Nov US Private Sector Jobs +534,000
ADP Report: Job Gains Have Topped 15 Million Since Recovery Began
ADP Report: Still 5 Million Jobs Short of Pre-Pandemic Levels
Trading Economics
(@tEconomics)Private businesses in the United States hired 534 thousand workers in November of 2021 compared to 571 thousand in October of 2021. https://t.co/LOS8b95mlz pic.twitter.com/7OXBLOrNLa
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…
Read More: OECD warns inflation surge and Omicron could undermine global