Private-sector hiring in the United States lost pace in November, with 146,000 jobs added, a decrease from the revised 184,000 jobs added in the prior month. This slowdown was reported in the latest ADP National Employment Report.
The report highlighted that manufacturing experienced its weakest performance since spring, while financial services and leisure and hospitality sectors also showed softness. Small establishments, those with fewer than 50 employees, notably lost jobs overall during the month.
Despite the overall slowdown in job creation, annual pay gains for job-stayers edged up for the first time in 25 months, rising 4.8% year-over-year. Annual pay increases for job-changers also saw a rise of 7.2%.
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