A research by the company Automatic Data Processing Inc. (ADP) reported an increase of 216 000 jobs created by private businesses in the US in November with average forecasts of financial markets for an increase of about 165 000. At the same time it was announced some downward revision of data for October, according to which private sector of the US economy were revealed 119,000 jobs during a previous assessment of the ADP of 147 000.
Yesterday's stronger than expected data suggest a pretty good rate of improvement in the labor market, even though the US economy is getting closer to achieving the so-called "Full employment", analysts say.
The ADP report is unlikely to lead to a substantial revision of forecasts of financial markets for upcoming on Friday an official report on employment in November, they added.
According to ADP small US companies with employees between 1 and 49 already for the fifth consecutive month are not a major generator of employment in November, as they had opened 37,000 jobs, medium-sized companies, employing between 50 and 499 people, were hired extra 89 000 workers, while large companies, employing more than 500 people have launched 90,000 new jobs.
The service sector added in the eleventh month of this year 228,000 jobs, in the manufacturing sector were cut 10 000 jobs, only within the industrial enterprises were laid off 10,000 workers, while in construction the number of jobs had increased by 2000, shows the latest survey of ADP.
Let me recall, that ADP surveys pretty much show what to expect from NFP on Friday. If their results are close to the real data, we can expect serious rise in dollar after this week's NFP.
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