Payroll growth slows in November as labor market tightens


PREMO Member
"Job growth is strong, but has likely peaked. This month's report is free of significant weather effects and suggests slowing underlying job creation," Mark Zandi, chief economist at Moody's, said in a statement. "With very tight labor markets, and record unfilled positions, businesses will have an increasingly tough time adding to payrolls."

The ADP/Moody's release comes a day before the government's closely watched nonfarm payrolls report. Economists are looking for employment in the private and public sector to rise by 195,000 and the unemployment rate to hold steady at 3.7 percent. The ADP/Moody's report occasionally will cause an adjustment in those expectations, though the two counts sometimes differ by wide margins due to differing methodologies.