From ADP’s press release:
Private sector employment increased by 118,000 jobs from October to November, according to the November ADP National Employment Report®, which is produced by Automatic Data Processing, Inc. (ADP®), a leading provider of human capital management solutions, in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. The October 2012 report, which reported job gains of 158,000, was revised down by 1,000 to 157,000 jobs.
Small businesses (1-49 employees) added 19,000 jobs. Medium businesses (50-499 employees) added 33,000. Large businesses added 66,000.
Mark Zandi at Moody’s blames Sandy:
“Superstorm Sandy wreaked havoc on the job market in November, slicing an estimated 86,000 jobs from payrolls. The manufacturing, retailing, leisure and hospitality, and temporary help industries were hit particularly hard by the storm. Abstracting from the storm, the job market turned in a good performance during the month.”
No kidding? All those hotels filled to the brim with people who had to leave their homes did nothing for employment? All of the people hired temporarily to help with the storm cleanup did nothing for employment? Well then, we should see a huge bounceback in December, maybe even 300,000 jobs added, right?