US private payrolls rise in October, ADP says

WASHINGTON, Nov 4 (Reuters) - ‌US private ​payrolls ​growth increased further in October, the ADP National Employment Report showed on Wednesday.

Private ‌employment rose by 86,000 jobs last month ⁠after a downwardly revised 86,000 gain in September. Economists ‌polled by Reuters had ‌forecast private employment increasing by 69,000 after a previously reported 90,000 advance in September.

The ADP report ​is jointly developed with the Stanford Digital Economy Lab, and was published ahead of ⁠the Bureau of Labor Statistics' more comprehensive and closely watched employment ​report for October on Friday.

ADP has been a poor gauge of the BLS' private ​payrolls estimate. The labor ‌market remains on a firmer footing, despite the uncertainty caused by the US-Israeli ⁠war with Iran. The BLS reported on Tuesday that there were 1.06 open jobs for every unemployed ⁠person in September, up from 1.02 in August.

The BLS ​is likely to report that private payrolls increased by 64,000 jobs in October after rising by 46,000 in September, ‌according to a Reuters survey of economists. Nonfarm payrolls are expected to ‌have advanced by 65,000 in October after gaining ⁠29,000 in September. The ‌unemployment rate is ​forecast to have been unchanged at 4.2%.

(Reporting by Lucia Mutikani; Editing by Chizu ‌Nomiyama)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Pennsylvania reports sixth measles-linked death as cases rise
• Texas data centers face uncertain future after Hinojosa wins governor’s race
• Europe to invest €525 million in chip startups to catch up with US and China