Today, private staffing and business services firm ADP released the latest installment of their National Employment Report indicating that the situation for private employment in the U.S. improved slightly in November as private employers added 93,000 jobs in the month bringing the total employment level 0.23% above the level seen in November 2009.Looking at the chart (click for full-screen dynamic version) showing ADP’s total private nonfarm payrolls since 2001 as well as the year-over-year and month-to-month percent change, you can see that the so-called “recovery” has been anemic.
Perusing the rest of the data in the ADP dataset it’s obvious that our economy faces some significant headwinds coming from the job market with continually collapsing construction payrolls and feeble trends in goods producing and service-producing payrolls.
Look for Friday’s BLS Employment Situation Report to likely show somewhat similar trends.
