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- U.S. private employers add 125,000 jobs in October- ADP
U.S. private employers add 125,000 jobs in October- ADP
The employment
report prepared by Automatic Data Processing Inc. (ADP) and Moody's Analytics
showed on Wednesday the U.S. private employers added 125,000 jobs in October.
Economists had
expected a gain of 120,000.
The increase
for September was revised sharply down to 93,000 from the originally reported
135,000.
" While job growth continues to soften,
there are certain segments of the labor market that remain strong,” noted Ahu
Yildirmaz, vice president and co-head of the ADP Research Institute. “The goods
producing sector showed weakness; however, the healthcare industry and midsized
companies had solid gains.”
Meanwhile, Mark
Zandi, chief economist of Moody’s Analytics, said, “Job growth has throttled
way back over the past year. The job slowdown is most pronounced at
manufacturers and small companies. If hiring weakens any further, unemployment
will begin to rise.”
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