ADP: US Employment Growth the Highest in 8 Months
US private employers added more jobs than expected in October. According to the report of the Automatic Data Processing (ADP), US creates 227.000 jobs in October, above economists' expectations of 189.000 jobs.
The US October payroll increase was the highest since February 2018. Meanwhile, private sector payrolls increased by a downwardly revised 218.000 in September.
The ADP figures come ahead of the Labor Department's nonfarm payrolls report on Friday, which includes both public and private-sector employment. Economists are expecting the NFP to show the US economy to have added 191.000 jobs in October after adding 134.000 positions in September. The US unemployment rate is forecast to grow to 3.8%.