Moody's Analytics and ADP reported on Wednesday that business in the United States added 216,000 jobs from private enterprises only for the month of November. It is so far the most notable pace in the US economy since the month of June.
According to a report by CBNC, the rate of job postings on October of 119,000, which has been revised from 147,000, almost doubled after the 2016 US Presidential election has concluded. In an interview with CNBC, Moody's Analytics Chief Economist, Mark Zandi, said that the US labor market is feeling really good and that President-elect Donald J. Trump will inherit a rich US economy.
Despite the unexpected loss of the Democratic bet Hillary Clinton, the hiring in the country has risen regardless of the total revamp in the US employment from a probability of a Trump administration. The report comes from both private and public sectors that involve the employment of workforce.
In a poll by Reuters, economists have seen the private payroll hiring of US to record an outstanding 165,000 added jobs only for the month of November. The employment in the non-farm sector has also added jobs by almost 175,000.
In the midst of the election campaign, a prediction that the policies of a possible Trump administration would result in a long recession was released by Zandi. On a report issued by the Commerce Department, the US economy has shown an unexpected increase in the third quarter of 2017. Meanwhile, just this November, the country achieved a 3.2 percent growth in its economy which thereafter resulted to the upsurge in the job postings of retail, private and public sectors.
Zandi also said that seasonal hiring is also one of the reasons why the rate of job postings in the country has risen this November. According to him, businesses in the US tend to increase the seasonal hiring in order to meet increasing demand for goods and services during the holiday season. For more latest news and updates on the monthly employment record of US, check out Jobs & Hire.