ADP Monthly Job Reports for November

ADP has issues its monthly jobs report, for November 2010. It shows more growth in small businesses (non-farm), though medium sized goods-producing firms outpaced small firms in that category. Service-producing industries grew in small, medium and large sized companies. Here is an excerpt:

This month’s ADP National Employment Report shows an acceleration of employment and suggests the nation’s employment situation is brightening somewhat. November’s gain in private-sector employment is the largest in three years. This is the tenth consecutive month of gains, which have averaged 47,000 during that period. Nevertheless, employment gains of this magnitude are not sufficient to lower the unemployment rate, which likely will remain above 9% for all of 2011. Furthermore, given modest GDP growth in the second and third quarters, and the usual lag of employment behind GDP, it would not be surprising to see several more months of only moderate gains in employment even as the economic recovery gathers momentum.

According to the ADP Report, employment in the service-providing sector rose by 79,000 in November, the tenth consecutive monthly gain. Employment in the goods-producing sector rose by 14,000, the first monthly increase since March 2007. Construction employment dropped by 3,000 during November, the smallest decline since June 2007, and manufacturing employment increased by 16,000.