U.S. Private Sector Adds 147,000 Jobs in October

Private employers
  • U.S. Private Sector Adds 147,000 Jobs in October

U.S. private employers added 147,000 jobs in October, below economists’ expectations, a report by a payrolls processor showed on Wednesday.

Economists surveyed had forecast the ADP National Employment Report would show a gain of 165,000 jobs, with estimates ranging from 130,000 to 190,000.

Private payroll gains in the month earlier were revised up to 202,000 from an originally reported 154,000 increase.

The report is jointly developed with Moody’s Analytics.

The ADP figures come ahead of the U.S. Labor Department’s more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment.

Economists polled by Reuters are looking for U.S. private payroll employment to have grown by 166,000 jobs in October, down from 167,000 the month before. Total non-farm employment is expected to have risen by 175,000.

The unemployment rate is forecast to tick down to 4.9 percent from the 5.0 percent recorded a month earlier.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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