Dec. 4 (UPI) -- Payroll company ADP and Moody's analytics said Wednesday the U.S. economy grew by 67,000 jobs for the month of November -- substantially short of what most Wall Street experts predicted.
Most analysts expected a gain of 150,000 jobs last month, after a gain of more than 160,000 in October. The 67,000 figure is the second-lowest of 2019.
The economy lost 18,000 jobs in the goods-products sector,15,000 in trades-transportation-utilities and another 15,000 in small businesses with less than 20 employees, ADP and Moody's said.
"The job market is losing its shine," Mark Zandi, chief economist of Moody's Analytics, said in a statement. "Manufacturers, commodity producers, and retailers are shedding jobs. Job openings are declining and if job growth slows any further unemployment will increase."
Service-providing business led the job gainers, adding 85,000 jobs last month, followed by 29,000 for medium-size businesses and 27,000 for large businesses.
"In November, the labor market showed signs of slowing," Ahu Yildirmaz, vice president and co-head of the ADP Research Institute, said. "The goods producers still struggled; whereas, the service providers remained in positive territory driven by healthcare and professional services.
"Job creation slowed across all company sizes; however, the pattern remained largely the same, as small companies continued to face more pressure than their larger competitors."
The official government figures from the Labor Department will be issued Friday.