This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ADP: November Payrolls Rise 93,000

Stocks in this article: SPY DIA NVS GM STT

NEW YORK ( TheStreet) -- Private-sector employment rose by the most in three years in November, according to the latest ADP National Employment Report.

On a seasonally adjusted basis, private businesses added 93,000 jobs in November. The growth in private payrolls came in significantly higher than expected, with economists forecasting a jump of 58,000, according to consensus estimates from

Employment in the services sector rose for the tenth consecutive month by 79,000 in November. Employment in goods-producing and manufacturing sector rose by 14,000 and 16,000 respectively after declining last month. The construction sector shed 3,000 jobs, its smallest decline since June 2007.

Interestingly, the growth in payrolls was driven by small-businesses. Large businesses, defined as those with 500 or more workers, increased by 2,000 while employment among medium-size businesses, defined as those with between 50 and 499 workers, increased by 37,000. Employment among small-size businesses, defined as those with fewer than 50 workers, increased by 54,000.

In another report released on Wednesday, global outplacement firm Challenger Gray & Christmas said downsizing activity rose to an eight-month high, as government and nonprofit organizations shed jobs. Employers announced job cuts totaling 48,711 during the month, according to the report, 28% higher than those planned in the previous month, but still 3.3% lower than year-ago levels.

However, John Challenger, CEO of the consulting firm, said that most sectors outside of government have seen declines in job cuts. "The November increase in job cuts is not indicative of a broader trend. Historically, job cuts tend to increase in the final months of the year. This is the period when many companies make budget and payroll decisions for the coming year," said Challenger.

The ADP number comes ahead of the government's report of nonfarm payrolls on Friday. The Labor Department is expected to report on Friday that companies added 140,000 jobs in November, according to consensus estimates from

On Thursday, the Labor Department will also release its weekly unemployment claims report. Initial weekly claims is expected to rise by 15,000 to 422,000 in the week ended Nov.27 after unexpectedly dropping to 407,000 in the previous week, its lowest level since July 2008.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs