By Ed Frankl


Private-sector hiring lost pace last month, as manufacturing employment continued to struggle, though with pay growth accelerating for the first time in more than two years.

The private sector added 146,000 jobs in November, slipping from a revised 184,000 a month prior, according to the ADP National Employment report released Wednesday. Economists polled by The Wall Street Journal expected 163,000 new jobs.

"While overall growth for the month was healthy, industry performance was mixed," said ADP Chief Economist Nela Richardson.

"Manufacturing was the weakest we've seen since spring. Financial services and leisure and hospitality were also soft," she added.

Larger firms with more than 500 employees showed greatest resilience in the jobs market, gaining the most new jobs, while small establishments--with fewer than 50 employees--lost jobs overall. The South gained the most new jobs, followed by the Northeast, Midwest and West regions.

Notably, annual pay gains for job-stayers edged up for the first time in 25 months, rising 4.8% on year. Annual pay rises for job-changers increased 7.2%. That may spook Federal Reserve policymakers, who in November cut interest rates.

The ADP data comes ahead of labor department figures due Friday, which are expected to show the U.S. economy added 214,000 new jobs in November.


Write to Ed Frankl at edward.frankl@wsj.com


(END) Dow Jones Newswires

12-04-24 0858ET