US private sector created 534,000 jobs during November

The U.S. private sector added 534,000 jobs in November, business services firm ADP reported Thursday.

The figure follows the 570,000 jobs created in October, reflecting the evolution of the labor market, especially with regard to service companies.

The data is released before official employment figures are known next Friday.

The labor market recovery continued with momentum despite challenges last month, “said ADP chief economist Nela Richardson.

Richardson noted that the average job creation was 543,000 in the last three months.

The service sector, which dominates the American economyadded 434,000 jobs, 136,000 of them in the leisure and hospitality chapter, the one that suffered the greatest impact from the coronavirus pandemic, according to the report.

Goods-producing firms added 110,000 workers, 50,000 of them in manufacturing, a sector that the president Joe Biden made it a priority.

Richardson said the economy has already restored 15 million jobs since the recovery began, but five million are still missing from returning to pre-pandemic levels.

However, “it is too early to tell whether the Omicron variant (of the coronavirus) could slow down job recovery in the coming months. “



Reference-www.eleconomista.com.mx

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