Private hiring slows in November to just 127,000 jobs

The Hill ^ | 11/30/2022 | ZACH SCHONFELD

[ChicagoConservative27]

Private companies added an estimated 127,000 jobs in November, a sharp slowdown from October and the lowest monthly gain in nearly two years, according to a new ADP jobs report.

The estimate, which does not include public sector jobs, fell from 239,000 private jobs added in October and marks the latest sign of a cooling labor market as the Federal Reserve rapidly raises interest rates.

Private companies added 357,167 monthly jobs on average last year, a steady pace spurred by the nation’s pandemic recovery that has since slowed amid the central bank’s monetary tightening, which is aimed at lowering inflation.

The November report marks the lowest monthly gain since January 2021, when private sector hiring fell as COVID-19 cases soared nationwide. But annual pay was still up 7.6 percent year over year, 0.1 percentage points lower than last month’s report.

[ChicagoConservative27]

But just today I read U.S. grew 2.9% in third quarter, GDP shows, and there's little sign of recession for now.

All BS

[griswold3]

Seems .gov gota better return than expected on their big spending before the Election…
Federal Government outlays for last 3 months year over year.

July 2021 ... $564 billion
August 2021 ... $439 billion
September 2021 ... $524 billion

July 2022 ... $480 billion
August 2022 ... $523 billion
September 2022 ... better sit down ... $917 billion <<<THIS

[TomGuy]

Looks like the November numbers might be a mixed bag.

That way, both pro and con sides can claim victory.

Dems will jump on the good numbers immediately and claim their Inflation Reduction Act made this possible.

[MCSETots]

I wonder if Biden will take credit for it . . .

[Elsie]

It seems that EVERY business on State Street in Greenfield, IN has a help wanted sign!