ADP Report: Sandy Slowed Hiring In November
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
By Christopher S. Rugaber
WASHINGTON -- A private survey shows that U.S. businesses added fewer workers in November, in part because Superstorm Sandy shut down factories, retail stores and other companies.
Payroll processor ADP says employers added 118,000 jobs last month. That's below October's total of 157,000, which was revised lower.
Mark Zandi, chief economist at Moody's Analytics, says the storm cut payrolls by 86,000 jobs. Excluding the effects of the storm, "the job market turned in a good performance during the month."
ADP is calculating job gains with a different methodology than it had previously used. The new report covers more businesses.
The report only covers hiring in the private sector, so it excludes government job growth. The Labor Department will offer a more complete picture of October hiring on Friday.
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