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U.S. Companies Added Fewer Employees in Last 5 Months

By December 2, 2016September 1st, 2020No Comments

Data released from the ADP Research Institute last Wednesday revealed U.S Companies added 147,000 workers in October, the fewest in five months. American firms have cited a lack of available high-skilled workers in the talent pool as a contributing factor of the hiring cool down. Policy-makers at the Federal Reserve, however, remain optimistic about job growth and progress in the labor market.

Per Bloomberg Report:

“-Construction payrolls dropped by 15,000 last month, the biggest decline since May

-Factories shed 1,000 workers

-Employment at business services firms rose by 69,000 and payrolls increased by 38,000 in leisure and hospitality

-Companies employing 500 or more workers added 64,000 jobs; payrolls climbed by 48,000 at medium-sized businesses, or those with 50 to 499 employees; small companies’ staffs grew by 34,000

Read the full report and other insights at ADP Research Institute.


Author Will-CRMD

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