ADP Reports an Increase of 215,000 Jobs
The ADP National Employment Report is out for November, and the news is rosy: the economy added 215,000 private-sector jobs from October to November — more than the 170,000 jobs predicted by economists.
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“This feels pretty good,” says Mark Zandi, an economist with Moody’s Analytics, in an interview on CNBC. “I’m surprised at how well the job market held up in the face of what happened in Washington.”
In fact, the government shutdown in early October seems to have had little effect on jobs numbers. CNBC points out that ADP revised its October report upwards from 130,000 jobs added to 184,000.
“It’s an encouraging sign as we go into the new year,” says Carlos Rodriguez, president and chief executive officer of ADP.
The Department of Labor will release its job report on Friday at 8:30 a.m. ET. Economists at Thomson Reuters predict gains of 180,000 jobs, slightly lower than previous months. Unemployment is expected to stay about the same, dropping from 7.3 percent to 7.2 percent.
The PayScale Index, based on a model that includes the unemployment rate of full-time workers, forecasts a 0.8 percent growth in wages during the fourth quarter of 2013.
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