Just in time for the part-time retail hiring season, employment growth seems to be slumping again, even as self-reported confidence in hiring is ticking up.
Friday will bring the all-important Employment Situation report from the Bureau of Labor Statistics, but in the meantime ADP and Gallup provide what may be a preview of November’s performance.
ADP’s employment survey in November dropped to 208,000 in November from 233,000 in October.
November usually sees a spike from holiday hiring, but for the first time since 2008 it dropped.
ADP private payroll employment for October posted at 230,000. This compares with the BLS private payroll gain of 209,000.
Meanwhile, Gallup's U.S. Job Creation Index ticked up a point in November to +28 after a three-point slip in October from the record high +30 in September. Hiring inched up in both government and nongovernment sectors.
The slight improvement in November comes on the heels of the first month-to-month dip seen this year in Americans' self-reports of hiring at their workplace. The index had seen gradual improvements throughout the year, but the drop in October delivered a correction to that trend.
Gallup's Job Creation Index is a measure of net hiring activity in the U.S., with the November average based on a nationally representative sample of nearly 17,000 full- and part-time workers.
November's +28 index score is based on 40% of employees saying their employer is hiring workers and expanding the size of its workforce and 12% saying their employer is letting workers go and reducing the size of its workforce. Forty-one percent reported no changes in staffing at their place of work.