Private survey: Sandy slows hiring to 118K in Nov.
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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. A key reason the reports are expected to diverge: ADP counts someone as employed if they remain on a company's payroll, even if that business is closed and employees aren't paid. The government counts them as employed only if they are paid. Even without the storm's impact, hiring has been only modest this year. Employers have added an average of 157,000 jobs per month since January, barely enough to lower the unemployment rate.
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Private survey: Sandy slows hiring to 118K in Nov.
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ADP report only covers private sector hiring and excludes government job growth; Labor Department releases monthly report Friday
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