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12/4/2013 10:15:00 AM Write a Letter to the Editor Write a letter to the Editor

Companies Increase Payrolls by Most in a Year

U.S. companies boosted payrolls by the most in a year in November, according to a private report released Dec. 4.

Employment increased by 215,000 following a revised 184,000 gain in October that was larger than the initial estimate, according ADP Employer Services.

Economists had forecast a 170,000 increase, Bloomberg News reported.

“Not only is the job market healthy, but it’s improving going into year-end,” Brian Jones, senior U.S. economist at Societe Generale, told Bloomberg. “We’re optimistic on growth next year, continued improvement, further reductions in the jobless rate.”

A pickup in job growth would help generate more incomes and spur consumer spending, which accounts for about 70% of the economy, according to Bloomberg.

The Labor Department will release its monthly employment report Dec. 6, with economists forecasting an increase of 180,000 workers, Bloomberg reported.

By Transport Topics

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