US: Private sector employment increased by 190,000 jobs in November - ADP

Eren Sengezer FXStreet

"Private-sector employment increased by 190,000 from October to November, on a seasonally adjusted basis," ADP Research Institue announced on Wednesday.

Key highlights

"The labor market continues to grow at a solid pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

Notably, manufacturing added the most jobs the industry has seen all year.

"As the labor market continues to tighten and wages increase it will become increasingly difficult for employers to attract and retain skilled talent," Mark Zandi, chief economist of Moody’s Analytics, said.

The job market is red hot, with broad-based job gains across industries and company sizes.

The only soft spots are in industries being disrupted by technology, brick-and-mortar retailing being the best example.

There is a mounting threat that the job market will overheat next year.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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