Private sector adds fewer-than-expected jobs in November: ADP

NEW YORK, Wed Dec 5, 2012 — Private-sector employers added 118,000 jobs in November, shy of economists’ expectations, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 125,000 jobs.

October’s private payrolls were revised slightly down to an increase of 157,000 from the previously reported 158,000.

The report is jointly developed with Macroeconomic Advisers LLC.

Goldman Sachs CEO details hiring plans in Salt Lake City

NEW YORK – Goldman Sachs Group Inc. plans to add 300 workers to its fast-growing office in Salt Lake City, Utah, by the end of the year, Chief Executive Lloyd Blankfein told employees at a town hall meeting there on Tuesday, according to a Goldman staffer who was present.

The increase would bring Goldman’s workforce in the city to 1,600, the attendee cited Blankfein as saying. The person spoke on condition of anonymity because he was not authorized to speak to the press.

Blankfein, 57, was in Salt Lake City to meet with Mayor Ralph Becker and Utah Governor Gary Herbert, and also to make his first visit to Goldman’s downtown office.

Goldman spokesman David Wells confirmed Blankfein’s visit but could not immediately verify the figures.

Goldman first opened a Utah office in 2000, but has been expanding there rapidly since entering a tax break deal with the state in 2009.

Goldman will receive an estimated $47.3 million from Utah over a 20-year period in the form of a 30 percent tax rebate, according to Governor’s Office of Economic Development.

In exchange, the bank agreed to maintain at least 1,065 employees in Salt Lake City and pay them at least 150 percent of the average local county salary.