The US economy added 146,000 jobs in November, according to the latest monthly ADP National Employment Report Economy Lab report, released Wednesday.
That number is down from the 233,000 jobs added in October, a month that saw the highest level of job creation since July 2023. October’s results marked the end of a five-month streak of slowing job creation among private employers.
“While overall growth for the month was healthy, industry performance was mixed,” ADP Chief Economist Nela Richardson said in a press release issued in conjunction with the release of the report. “Manufacturing was the weakest we’ve seen since spring. Financial services and leisure and hospitality were also soft.”
The health/education sector added 50,000 jobs in November compared with 53,000 jobs in October. The sector added more jobs than other service sector during the month.
Large companies (those with 500 or more employees) gained the most jobs in November, 120,000. Medium-sized firms (50 to 499 employees) gained 42,000 jobs in the month, whereas small companies (one to 49 employees) saw a net loss of 17,000 jobs.
The pace of year-over-year pay growth for job-stayers edged up for the first time in 25 months. The median monthly change for job stayers was flat month over month in November, at 4.8%.
The ADP report, which analyzes the payroll transactions of more than 25 million US workers, is produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab.
