ADP News Release (12/06/23)

Private sector employment increased by 103,000 jobs in November and annual pay rose 5.6% year-to-year, according to the November ADP National Employment Report. “Restaurants and hotels were the biggest job creators during the post-pandemic recovery,” said Nela Richardson, chief economist, ADP. “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.”