Private Payrolls in US Fall Short of Expectations, Increasing by 103,000 in November

Private sector job creation in the US slowed in November, with companies adding just 103,000 workers, below expectations, according to a report by payrolls processing firm ADP. This is a slight decrease from the downwardly revised 106,000 jobs added in October. The report also revealed that wages showed their smallest growth in over two years, with an annual increase of 5.6%. The leisure and hospitality sector, which had been leading job creation since the pandemic hit, recorded a loss of 7,000 jobs in November. The ADP report comes ahead of the more widely watched nonfarm payrolls count from the Labor Department.