Survey: Sandy slows hiring in November to 118K

Published on NewsOK Modified: December 5, 2012 at 8:56 am •  Published: December 5, 2012
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WASHINGTON (AP) — A private survey shows that U.S. businesses added fewer workers in November, mostly because Superstorm Sandy shut down factories, retail stores, and other companies.

Payroll processor ADP said Wednesday that employers added 118,000 jobs last month. That's below October's total of 157,000, which was revised lower.

Mark Zandi, chief economist at Moody's Analytics, says the storm cut payrolls by an estimated 86,000 jobs. Excluding the effects of the storm, "the job market turned in a good performance during the month."

ADP and Moody's Analytics are calculating job gains with a different methodology than the survey previously used. The new method covers more businesses. Previous ADP reports frequently produced figures much different than the government data.

The report only looks at hiring in the private sector and excludes government hiring. The Labor Department will offer a more complete picture of the November job market on Friday.

The storm is also expected to affect that Labor Department report and many economists expect it will show even fewer jobs added. Some are predicting as few as 50,000 jobs added in November. The unemployment rate is expected to rise to 8 percent from 7.9 percent.



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