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ADP Says U.S. Companies Added 118,000 Workers in November

Companies in the U.S. added fewer workers in November than a month earlier after superstorm Sandy battered the East Coast and temporarily shuttered some businesses.

The 118,000 increase in employment followed a revised 157,000 gain in October that was less than initially estimated, data from the Roseland, New Jersey-based ADP Research Institute showed today. The median forecast of 38 economists surveyed by Bloomberg projected a 125,000 rise in November. The report estimated that Sandy reduced payrolls by about 86,000.