Pasadena, CA -- (SBWire) -- 12/06/2010 -- The latest report from payroll firm ADP says that in November around 93,000 jobs were created in the nonfarm private sector.
ADP’s report, called the ADP National Employment Report, is made by using the actual payroll data and tracks the total nonfarm private employment every month. The official jobless report will be released on December 3 by the Bureau of Labor Statistics. But the ADP report is considered a good guide to the jobs market since it is one of the largest payroll processors for private companies.
The report shows that small, privately owned businesses drove the job creation in November. These are companies with less than 50 employees and these companies created 54,000 jobs. That is 54% of all the private sector jobs created that month. But medium and big companies are not in big-time hiring mode. Medium sized firms (50 to 499 employees) added 37,000 jobs and large firms (500 or more employees) added 2,000 jobs.
This is because of uncertainties over what kind of financial and tax policies the federal government is going to come up with in the next few months. CEO A. Harrison Barnes of Hound says that restaurants and fast food chains are still among the biggest hirers right now. “Construction and manufacturing are not recovering fast enough to create enough jobs, but service sector jobs are the main source of jobs right now.” Hound has been able to find over 98,000 jobs.
ADP Report Finds That Private Sector Added 93,000 Jobs in November, Hound Finds 98,000 Jobs
CEO A. Harrison Barnes of Hound says that restaurants and fast food chains are still among the biggest hirers right now. “Construction and manufacturing are not recovering fast enough to create enough jobs, but service sector jobs are the main source of jobs right now.” Hound has been able to find over 98,000 jobs.