Loading ...US private sector created 216,000 jobs in Nov, vs 165,000 jobs expected
Jeff Cox
November saw a big surprise in politics and a major jump in job creation, according to a report Wednesday from ADP and Moody’s Analytics.
Private companies added a net 216,000 positions during the month, smashing the 165,000 estimate from economists surveyed by Reuters and marking the best month since June. The number was nearly double the 119,000 in October, which was revised lower from the originally reported 147,000.
The spike in hiring came amid Donald’s Trump’s shocking upset in the presidential race and against expectations that the U.S. job market was reaching a full employment condition that would cause payroll growth to slow.
Get the market reaction here.
“The labor market feels very good,” Mark Zandi, chief economist at Moody’s Analytics, told CNBC. “Mr. Trump is inheriting a very strong economy.”
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a fairly strong jobs report on Friday is factored in mostly–cause chances of a FED hike in December are 90%…a weakish report may not rocket gold but should keep it from plunging especially ahead of the weekend I-talian vote.