ADP's November jobs report Wednesday said private employers created 103,000 jobs in November. ADP said pay rose 5.6%, while the job-changers saw pay hikes of 8.3%, the lowest in three years. Photo by Jim Ruymen/UPI | License Photo
Dec. 6 (UPI) -- U.S. private job growth was modest in November while wage gains slowed, according to a Wednesday report from the private company ADP.
Private employers in the United States added 103,000 jobs in November while annual pay increased 5.6% in 2023, ADP's monthly employment report said.
Service jobs were up by 117,000 while goods-producing jobs like manufacturing and construction declined by 14,000.
"Restaurants and hotels were the biggest job creators during the post-pandemic recovery," said ADP chief economist Nela Richardson in a statement. "But that boost is behind us, and the return to trend in leisure and hospitality suggests the economy as a whole will see more moderate hiring and wage growth in 2024."
For people changing jobs, the average pay increase in November was 8.3%. For employees who stayed the pay increase was 5.6%.
The pay boost for job-changers was the lowest since June 2021, according to ADP.
ADP revised its October jobs numbers to 113,000 from 106,000.
Mid-sized companies with between 50 and 249 employees added the most jobs in November at 71,000. Large firms with 500 employees or more added 33,000 jobs in November, according to ADP.
The November hiring growth was described by ADP as moderate with both goods and services showing some weakness. Leisure and hospitality job creation was down in November.
The Northeast saw 59,000 jobs created in November, more than any other U.S. region, while the West was the only region to see a net decline, losing 10,000 jobs.