Companies Boost U.S. Payrolls by Most in a Year
By Jeanna Smialek - Dec 4, 2013
Companies boosted payrolls in November by the most in a year, a sign that U.S. employers were optimistic about demand after the end of a government shutdown a month earlier, a private report based on payrolls showed today.
The 215,000 increase in employment exceeded the most optimistic forecast in a Bloomberg survey and followed a revised 184,000 gain in October that was larger than initially estimated, according to the ADP Research Institute in Roseland, New Jersey. The median forecast of economists called for a 170,000 advance.
Stronger job growth helps provide working Americans with the income gains needed to boost consumer spending at the same time retailers seek to spur holiday sales with discounted merchandise. Federal Reserve policy makers are watching labor-market progress as they debate when to scale back record monetary stimulus.
“Not only is the job market healthy, but it’s improving going into year-end,” said Brian Jones, senior U.S. economist at Societe Generale in New York, whose forecast for a 210,000 gain was the highest in the Bloomberg survey. “We’re optimistic on growth next year, continued improvement, further reductions in the jobless rate.”
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http://www.bloomberg.com/news/2013-12-04/companies-in-u-s-added-215-000-workers-in-november-adp-says.html
