US private employers add 86,000 jobs in October, matching September's revised pace
Services employers added 82,000 jobs and goods producers 4,000, and the official payrolls report is due on Friday.
US private employers added 86,000 jobs in October, ADP said, above the 67,000 forecast. That is level with September, which ADP revised down to 86,000 from the 90,000 it first reported.
So the beat is against the forecast, not against last month. Against August it looks firmer: ADP put that month's gain at 38,000, the slowest since January. Two readings at 86,000 suggest hiring has settled at a steadier pace, though two readings are a short run.
The detail is lopsided. Service-providing employers added 82,000 jobs in October and goods-producing employers added 4,000.
With official data scarce, ADP is one of the few hard labor readings before the next Federal Reserve meeting. It has not always matched the government's count. The Bureau of Labor Statistics put September's gain at 29,000, against the 90,000 ADP first reported.
The bureau publishes official October payrolls on Friday, November 6, at 8:30 a.m. ET.
© Raydn · raydn.us
Related news
US private hiring keeps inching up, ADP says
Private employers added jobs at a weekly pace of 24,750 in the four weeks to September 26, ADP data show, extending a slow upward trend.
ADP weekly hiring gauge rises for third straight week, series shows
The measure tracks a four-week moving average and sits well below August's pace