Employment in private sector surged in November

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Source: Dukascopy
© Dukascopy
"Things are getting better for the economy"
- Robert Brusca, chief economist at Fact & Opinion Economics

The number of Americans, who have found a job in a private sector in November rose to 206 thousand from 130 thousand the previous month, the ADP Employer Services said on Wednesday. Economists expected the figure to increase to 131 thousand.

"Things are getting better for the economy," said Robert Brusca, chief economist at Fact & Opinion Economics in New York. "It means the news we have on Christmas shopping and on an increase in consumer confidence may have some validity."

"November's increase in employment normally would be associated with a decline in the unemployment rate. An acceleration of employment is consistent with data showing that GDP growth, which slowed sharply around the turn of the year, is gradually recovering," said Joel Prakken, chairman of Macroeconomic Advisers.
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