Private sector adds 189,000 November jobs

The private sector added 189,000 new jobs in November, according to the ADP National Employment report. The adds are much higher than market expectations and the biggest monthly increase in a year. The increase followed a revised estimate of 119,000 new jobs in October, more than the 106,000 new jobs that were recorded last month. The report found that the average monthly job growth was 93,000 so far this year. Employment in the service-providing sector of the economy grew by 197,000. Employment in the goods-producing sector fell by 8,000 positions, marking the 12th consecutive monthly decline. Manufacturing employment fell for the fifteenth consecutive month, but November's decline of 5,000 positions was the smallest monthly decline during that period. Small- and medium-size businesses recorded increases of 159,000 and 30,000, respectively. Meanwhile, large businesses added 32,000 jobs during the month. The data was compiled by ADP of Rosedale, N.J. and Macroeconomic Advisers LLC, a St. Louis-based economic consulting company.