ADP Reports 159,000 Jobs Added in November

New York, NY, December 5, 2007--Nonfarm private employment grew 189,000 from October to November of 2007 on a seasonally adjusted basis, according to the ADP National Employment Report.

The estimated change in employment from September to October was revised up 13,000 to 119,000. November’s increase of 189,000 marked a further acceleration of nonfarm private employment. The three-month average change in employment for September through November was 123,000, up from 43,000 during the three-month period from July through September.

The strength in employment during November was fairly broad-based. Even in manufacturing, construction, and financial services, sectors where employment has been under downward pressure, there are signs of accelerating employment.

Employment in the services sector of the economy grew 197,000, while employment in the goods-producing sector declined 8,000, the 12th consecutive monthly decline. However, this is the smallest decline in the goods-producing sector during the last 12 months, during which the average monthly decline was 30,000.

Manufacturing employment fell for the 15th consecutive month, but November’s decline of 5,000 was the smallest monthly decline registered during that span.

Small- and medium-size businesses more than accounted for the increase in total employment in November, with employment advancing by 159,000. In addition, there was a sizable increase of 30,000 in employment among businesses with 500 or more workers, reversing five consecutive monthly declines.

Two sectors of the economy hit hardest by recent problems in mortgage markets have been residential construction and financial activities related to home sales and mortgage lending. New suggest that in these two sectors employment may be stabilizing.

In November, construction employment fell for the 12th consecutive month, but November’s decline of 6,000 was the smallest since January.