U.S. Private Payrolls Miss Expectations As COVID-19 Infections Spread

WASHINGTON: U.S. private payrolls increased less than expected in November as soaring new COVID-19 infections led to a wave of business restrictions, adding to signs of slowing economic activity as a turbulent year winds down.
Private payrolls rose by 307,000 jobs last month after increasing 404,000 in October.
Economists polled by Reuters had forecast private payrolls would rise by 410,000 in November.
The ADP report was released ahead of the government’s closely watched, and comprehensive, monthly employment report on Friday.
According to a Reuters survey of economists, private nonfarm payrolls likely increased by 589,000 jobs in November after rising 906,000 in October.

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