Private sector adds most jobs in nearly a year [View All]

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Source: Reuters

NEW YORK (Reuters) - Private sector job growth accelerated in November as employers created the most jobs in nearly a year, prompting economists to raise their forecasts for Friday's more comprehensive U.S. labor report.

The ADP National Employment Report on Wednesday showed private employers added 206,000 jobs this month, surpassing economists' expectations for a gain of 130,000 jobs. It was the biggest gain since December 2010.

"The ADP news is very good news. The private sector is adding jobs," said Wayne Kaufman, chief market analyst at John Thomas Financial in New York.

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October's private payrolls growth was revised up to an increase of 130,000 from the previously reported 110,000. The ADP report is jointly developed with Macroeconomic Advisers LLC.

Read more: http://news.yahoo.com/private-sector-adds-206-000-jobs-november-132336436.html