Payroll giant ADP reported that private employment grew by 206,000 in November, the largest gain in 11 months and nearly twice the average monthly gain since May.
The biggest growth occurred at small companies, those with 49 workers or less, where 110,000 jobs were added, mostly in the service sector. Another 84,000 jobs were added at medium-size businesses, and large businesses added 12,000 workers.
ADP tracks only private employment. The US Department of Labor’s monthly report, which tracks jobs in both the private and public sectors, will be released Friday, where the news of the private growth will likely be tempered with some cutbacks in the public sector.
Still, ADP’s report roundly beat analysts’ estimates. Bloomberg economists had predicted between 95,000 and 200,000 jobs would be added this month.