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A "closed" sign at a coffee shop in New York City, where many businesses had to shut down for at least a few days before, during and after Superstorm Sandy. (Reuters /Landov)

118,000 Jobs Added To Payrolls Last Month, Report Signals

Dec 5, 2012

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There were 118,000 jobs added to private employers' payrolls in November, according to the latest ADP National Employment Report.

That's slower growth than in October, when ADP's employment measure grew by 157,000 jobs.

In its report, ADP quotes Mark Zandi, chief economist of Moody's Analytics, as saying that "Superstorm Sandy [which struck in late October] wreaked havoc on the job market in November, slicing an estimated 86,000 jobs from payrolls."

In coming months, watch to see if the rebuilding in New York, New Jersey and other places where Sandy hit hard gives a boost to employment.

ADP's report is sometimes an early sign of what the Bureau of Labor Statistics will say when it releases its monthly employment and unemployment data. That agency is due to release its November figures on Friday.

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