Private Payrolls Show Resilience
November’s job statistics indicate a promising uptick in private payrolls, suggesting resilience in the employment sector. According to Stephen Brown, the deputy chief North America economist at Capital Economics, the data presents a positive trend.
Private Payrolls Show Resilience
In October and November, private payrolls experienced a combined increase of 121,000 jobs. This surge surpasses expectations and reflects a vibrant job market.
Job Growth Overview
- Private employers added 69,000 jobs in November.
- October saw an addition of 52,000 jobs.
This contrasts sharply with the ADP data, which reported significant job losses in November. According to ADP, the private sector lost 32,000 positions last month, following a modest increase of 42,000 jobs in October.
Summary of Job Statistics
| Month | Private Payroll Change (ADP) | Private Payroll Change (Capital Economics) |
|---|---|---|
| October | +42,000 | +52,000 |
| November | -32,000 | +69,000 |
| Total (Oct & Nov) | N/A | +121,000 |
The contrasting data between ADP and Capital Economics emphasizes the complexities of the job market. However, the overall growth in private payrolls highlights a resilient employment landscape.
