The November ADP national employment report, an important preview of Friday’s jobs report, is out.
Private companies added 215,000 new jobs in during the month, which was much stronger than the 170,000 expected by economists.
Furthermore, the October number was revised up to 184,000 from an earlier reading of 130,000.
“The job market remained surprisingly resilient to the government shutdown and brinkmanship over the treasury debt limit,” said Moody’s Mark Zandi. “Employers across all industries and company sizes looked through the political battle in Washington. If anything, job growth appears to be picking up.”
Here’s the breakdown by industry:
And here’s the breakdown by company size:
“The ADP report has displayed improved accuracy since Moody’s replaced Macroeconomic Advisers as the compiler of the data just over a year ago, although October’s relatively large 82K miss keeps alive the possibility that the improvement has been due to luck as much as improved methodology,” noted High Frequency Economics’ Jim O’Sullivan.