News Summary: Sandy slows US hiring in November

AP News
Posted: Dec 05, 2012 4:41 PM

BUSINESS HIRING SLOWS: 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, down from 157,000 in October.

SANDY IMPACT: Sandy cut job gains last month by about 86,000, according to Moody's Analytics, which helps compile the data. Without the storm, job gains would have accelerated.

FULLER PICTURE FRIDAY: Previous ADP reports have produced figures much different than the government data. ADP only looks at hiring in the private sector and excludes government workers. The Labor Department will offer a more complete picture of the November job market on Friday.