US private sector adds 217,000 jobs in November: ADP

[NEW YORK] US private employers added 217,000 jobs in November, above expectations and the most since June, signalling job growth is likely strong enough to support the first Federal Reserve interest rate hike in nearly a decade when policymakers meet later this month, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 190,000 jobs.

Private payroll gains in October were revised up to 196,000 from an originally reported 182,000 increase.

The report is jointly developed with Moody's Analytics. The ADP figures come ahead of the US Labour Department's more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment.

Economists polled by Reuters are projecting the Labour Department's report to show US employers hired 200,000 workers in November. The unemployment rate is forecast to hold at 5.0 per cent.

REUTERS