US Private Firms Hire 534k Workers In November

Private US companies added 534,000 workers in November, payroll services firm ADP reported on Wednesday.

The figure follows an increase of 570,000 in October, reflecting continued gains across the economy but especially by services firms. It previews an expected hiring surge in official government data due out Friday.

"The labour market recovery continued to power through its challenges last month," ADP chief economist Nela Richardson said, noting that the gains over the past three months averaged 543,000.

The services sector, which dominates the US economy, added 434,000 jobs, with 136,000 in the leisure and hospitality sector that took the biggest hit from the pandemic shutdowns, according to the report.

Goods-producing companies added 110,000 workers, with 50,000 in manufacturing – a sector President Joe Biden has made a priority.

Richardson said the economy has regained 15 million jobs since the recovery began, but is still five million jobs short of pre-pandemic levels.

However, with a new strain of Covid-19 spreading, "it's too early to tell if the Omicron variant could potentially slow the jobs recovery in coming months". (AFP)