ADP Report: Just 118k Jobs Created in November
I barely even have the energy to joke about how unexpected! it all is.
U.S. private-sector employers added fewer jobs than expected in November as superstorm Sandy hit companies in the northeast, a report by a payrolls processor showed on Wednesday.
The ADP National Employment Report showed the private sector added 118,000 jobs during the month. Economists surveyed by Reuters had forecast a gain of 125,000 jobs.
"Superstorm Sandy wreaked havoc on the job market in November, slicing an estimated 86,000 jobs from payrolls," said Mark Zandi, chief economist of Moody's Analytics in a statement. Zandi helps compile the report.
Hurricane Obama has been wreaking havoc on the jobs market for years now.