Underlying private-sector jobs growth was around 150,000 in November: ADP
NEW YORK (Reuters) - Underlying jobs growth in the U.S. private sector was around 150,000 in November after superstorm Sandy and seasonal factors are taken into account, compilers of a private-sector jobs report said on a conference call on Wednesday.
That is above the 118,000 reported in the ADP National Employment Report that fell short of the 125,000 jobs forecast by economists surveyed by Reuters.
Moody's analytics' Mark Zandi, who collaborates on the report, said without Sandy's impact there would have been over 200,000 jobs created. He added that 60,000 to 70,000 jobs were also brought forward due to the start of the holiday season.