According to the ADP report on employment for November that was released this morning, the economy added 206,000 jobs in the private sector. This is the first good report on employment in quite a long time. The report was not all good. The biggest part of the new jobs were temporary seasonal workers for UPS; planned layoffs for the first eleven months of the year now exceed those for all of 2010; and the plans for future hiring in December are substantially lower than those in November. Nevertheless, we finally have a month in which the number of jobs added is enough to keep up with the growth in the workforce. The more important number will be out in a few days when we hear the unemployment numbers for November. The ADP report bodes well for a good report there.
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