Private sector adds 215,000 jobs in November: ADP

Private sector adds 215,000 jobs in November: ADP

Private-sector employment picked up in November, as employers added 215,000 jobs, Automatic Data Processing Inc. reported Wednesday. Economists had forecast that private-sector employers added 178,000 jobs, up from an originally estimated gain of 130,000 jobs in October, according to a Dow Jones Newswires survey. On Wednesday ADP revised October's gain to 184,000. Economists use ADP's data to get a feeling for the U.S. Labor Department's employment report, which will be released Friday and covers government jobs in addition to the private sector. Economists polled by MarketWatch expect the government's report to show that nonfarm employment rose by 180,000 jobs in November, compared with an increase of 204,000 in October. Markets are searching jobs data this week for clues about when the Federal Reserve will deem the economy healthy enough to start paring its massive asset-purchase program, which officials crafted to stimulate growth by keeping downward pressure on long-term interest rates.

Funny everyone I know that is unemployed tells me the market sucks, maybe these over educated and talented people ( who want to work ) are doing it wrong, or maybe the ADP is another useless .gov lying entity, we ponder.