The U.S. private sector added 179,000 jobs in November, according to a report released Thursday, though the growth was lower than economists were expecting.
Of the 179,000 jobs the private sector added in November, 119,000 of those were for medium-size businesses, or firms that employ between 50 and 499 workers, according to the ADP National Employment Report.
Large businesses, which have at least 500 employees, added 13,000 jobs and small businesses, with 49 employees or less, added 46,000 jobs.
The ADP Research Institute puts together the ADP National Employment Report with Moody’s Analytics.
Economists polled by The Wall Street Journal were expecting the report to show the private sector added 190,000 jobs.
Most of the jobs added last month were in the service sector, which gained 163,000 jobs. The goods-producing sector added 16,000 jobs, with the construction sector leading with 10,000 new positions.
“Job growth is strong, but has likely peaked. This month’s report is free of significant weather effects and suggests slowing underlying job creation,” said Mark Zandi, chief economist from Moody’s Analytics, in prepared remarks. “With very tight labor markets, and record unfilled positions, businesses will have an increasingly tough time adding to payrolls.”
The ADP report, which is based on private-payroll data in addition to government data, comes ahead of the monthly jobs report from the U.S. Bureau of Labor Statistics on Friday. Economists expect nonfarm jobs to rise by 198,000 for November, compared with a gain of 250,000 the prior month. The unemployment rate is forecast to remain at 3.7%.
Summing the component number of jobs may not equal the total number, due to rounding.
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