U.S. private-sector job growth unexpectedly slowed to its weakest pace in six mo...
NEW YORK - U.S. private-sector job growth unexpectedly slowed to its weakest pace in six months in November, and goods producers and construction firms cut jobs, a private survey said on Wednesday.
U.S. companies’ payrolls rose by 67,000 last month, the ADP National Employment Report said. The median forecast among economists polled by Reuters called for a gain of 140,000 jobs, with estimates ranging from 120,000 to 188,000. Private payroll gains in the month earlier were revised down to 121,000 from an originally reported 125,000 increase.“The job market is losing its shine,” Mark Zandi, chief economist of Moody’s Analytics, said in a statement. “Manufacturers, commodity producers, and retailers are shedding jobs. Job openings are declining and if job growth slows any further unemployment will increase.”
Goods producers cut jobs for a third straight month, shedding 18,000 positions, spread evenly across the manufacturing, construction and natural resources and mining industries.
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