Investing.com – U.S. non-farm private employment rose significantly more-than-expected in November, industry data showed on Wednesday.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 93K in November, after rising by 82K in October, whose figure was revised up from 43K.
Analysts had expected non-farm private sector employment to increase by 65K in November.
The report said employment in the service-providing sector rose by 79K in November, the tenth consecutive monthly gain, while employment in the goods-producing sector increased by 14K, the first monthly rise since March 2007.
The data also showed that construction employment dropped by 3K during November, the smallest decline since June 2007, and manufacturing employment increased by 16K.
Following the release, the U.S. dollar was down against the euro, with EUR/USD gaining 0.87% to hit 1.3096.
Meanwhile, the outlook for U.S. equity markets was significantly upbeat: Dow Jones Industrial Average futures indicated a gain of 1.31%, S&P 500 futures pointed to an increase of 1.49%, while the Nasdaq 100 futures indicated a rise of 1.35%.
In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 93K in November, after rising by 82K in October, whose figure was revised up from 43K.
Analysts had expected non-farm private sector employment to increase by 65K in November.
The report said employment in the service-providing sector rose by 79K in November, the tenth consecutive monthly gain, while employment in the goods-producing sector increased by 14K, the first monthly rise since March 2007.
The data also showed that construction employment dropped by 3K during November, the smallest decline since June 2007, and manufacturing employment increased by 16K.
Following the release, the U.S. dollar was down against the euro, with EUR/USD gaining 0.87% to hit 1.3096.
Meanwhile, the outlook for U.S. equity markets was significantly upbeat: Dow Jones Industrial Average futures indicated a gain of 1.31%, S&P 500 futures pointed to an increase of 1.49%, while the Nasdaq 100 futures indicated a rise of 1.35%.