The U.S. economy added 216,000 jobs in November, 97,000 more than the downwardly revised October numbers, according to the monthly employment report released this morning by ADP and Moody’s Analytics.
“We saw very strong job growth that has almost doubled in gains over October 2016,” said Ahu Yildirmaz, vice president and head of the ADP Research Institute. “This growth was seen in primarily consumer-driven industries like retail, leisure, and hospitality—across all company sizes. Overall, consumers are feeling confident and are driving the strong performance we currently see in the job market.”
Despite uncertainty about the economy leading up to the country's recent presidential election, there is little evidence that it hurt hiring. Nor is there evidence that it will in the ensuing months, as is evidenced by the aggressive hiring trends seen in November since the election took place, says Mark Zandi, chief economist of Moody's analytics. Seasonal hiring to meet the demand of holidays may also attribute to the increase, although it is not expected to be any higher than last year.
Large business of 500 or more employees saw the biggest gain in company growth, with 90,000 jobs added, followed closely behind by mid-sized companies with 50 to 499 employees, with 89,000 jobs added.
Coming back from a three-month slump, the construction added 2,000 jobs in November. However, the manufacturing took a hit, losing 10,000 jobs after already losing 1,000 in October. The professional and services sector—which includes architecture and engineering firms—added 68,000 new positions for November.
For more information, read the full employment report from ADP.