Private companies in USA created 216,000 new jobs in November, which is highly above the expectations of analysts and best performance since June 2016. Private sector new jobs in November are almost twice higher than October, when were created 119,000 new jobs (revised down from 147,000 new jobs). The jump in employment came amid the surprise victory of Donald Trump on the US presidential election and despite expectations that the labor market in the US has reached full employment, which will slow down the employment growth.
For another month the service sector dominates in new jobs creation, adding 228,000 jobs. However, industries that produce goods are losing 1,000 positions.
In industry sectors the employment continued to decline in November, losing 10,000 jobs. The mining lost 4,000 jobs, while employment in construction sector decreased by 2,000.
The job creation, especially in industry and energy, was one of the main promises in the campaign of Donald Trump.
The ADP and Moody’s report was released two days before the one of Ministry of Labour, which is closely monitored by the US Federal Reserve and the markets. The economists expect on Friday Ministry of Labour to report 173,000 new jobs, as 165,000 of them will be in private sector. Estimates are that unemployment will remain at 4.9%.
more recommended stories
When PIIGS Fly
Leaders in their respective countries may.
The Retreat of Western Liberalism: A Conversation with Edward Luce
Edward Luce is the Washington bureau.
U.S. Industrial Production in May Unchanged from April
The Federal Reserve announced yesterday that.
Will Yellen Be Replaced as Chair of Federal Reserve?
Janet Yellen became the first woman.