U.S. Economy Gains Whopping 206,000 Jobs in November

ADP today reported that employment in the U.S. nonfarm private business sector increased by 206,000 from October to November on a seasonally adjusted basis. The estimated advance in employment from September to October was revised up to 130,000 from the initially reported 110,000.

The increase in November was the largest monthly gain since last December and nearly twice the average monthly gain since May when employment decelerated sharply.

Employment in the private, service-providing sector rose 178,000 in November, which is up from an increase of 130,000 in October. Employment in the private, goods-producing sector increased 28,000 in November, while manufacturing employment increased 7,000.

Employment on large payrolls — those with 500 or more workers — increased 12,000, and employment on medium payrolls—those with 50 to 499 workers — rose 84,000 in November.

Employment on small payrolls — those with up to 49 workers — rose 110,000 that same period, up from the 67,000 jobs created among small businesses last month. Of the 110,000 jobs created by small businesses, 15,000 jobs were created by the goods-producing sector and 95,000 jobs were created by the service-producing sector.

Employment in the construction industry increased 16,000 this month, the most notable gain in employment in this sector since November 2006. Employment in the financial services sector rose 7,000 in November.