U.S. Labor Market Sees Signs of Recovery as Private Jobs Increase

(MENAFN) US private sector employment expanded by 4,750 positions weekly during the four-week period ending Nov. 22, reversing earlier declines, based on preliminary figures unveiled Tuesday by market research firm ADP.

The growth signals the US employment landscape demonstrated recovery indicators in recent weeks. The prior ADP report revealed US private payrolls contracted by 13,500 jobs weekly in the four weeks through Nov. 8.

Earlier this month, ADP disclosed an unanticipated monthly private nonfarm payroll drop of 32,000 for November following October's expansion.

Alternative datasets, including those from ADP, have been bridging information voids in the economic landscape as the government shutdown continues disrupting official data dissemination.

Government agencies such as the bureaus of Labor Statistics and Economic Analysis have revised their publication calendars, though critical metrics like monthly aggregate nonfarm payrolls remain unavailable until December.

During the Federal Reserve's upcoming Dec. 9-10 gathering, monetary authorities will lack substantial portions of the customary statistical evidence they rely upon for forecasting.

Financial markets broadly anticipate another 25 basis point rate reduction on Wednesday by the central bank, as the inflation seemed to be slightly tamed and labor market showed signs of weakening in the past few months.

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