US private sector adds 216k jobs in Nov, easily topping estimates

Posted on November 30, 2016

The pace of job growth in the large US private sector blew past expectations in November in the latest indication that the labour market is firing on all cylinders.

The private sector tacked on 216,000 jobs this month, payroll processor ADP said. That topped expectations of 170,000.

The data comes ahead of Friday’s November jobs report, which is the last major update the Federal Reserve will receive on the labour market ahead of its meeting next month.

America’s labour market has tightened significantly this year, with the unemployment rate expected to have held under 5 per cent in November – close to levels economists see as consistent with the natural level in normally-functioning economy.

The strength in the jobs market combined with signs that inflation is heating up has prompted market participants to speculate that the Fed will increase interest rates for the first time this year at its meeting.

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