Private-sector payrolls continued to expand in November, with a large upward revision to October’s number, according to data released Wednesday.
Meanwhile, manufacturing activity continued to expand in November, according to the Institute of Supply Management, but the pace of growth slowed a bit. Separately, U.S. productivity rose more than previously thought in the third quarter as companies boosted output while also holding down labor costs.
Private-sector jobs in the U.S. rose by 93,000 last month, according to a national employment report published by payroll company Automatic Data Processing Inc. and consultancy Macroeconomic Advisers. It was the largest monthly gain in three years, the report said.
Economists had expected ADP to report a job gain of 70,000 in November. The estimated change in employment for October was revised to show a rise of 82,000, compared with the 43,000 increase first reported.
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