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ADP: Employers added 158,000 jobs in October
By Palm Beach Business.com
NEW YORK — The payroll firm ADP on Thursday said employers added 158,000 jobs in October, compared with 114,000 a month earlier. The Labor Department releases its jobs report on Friday.
“Businesses are adding consistently to their payrolls,” Moody’s Analytics Chief Economist Mark Zandi said. “October’s job gains were in line with the average monthly gains of the past two years, with sturdy albeit less than stellar growth across most industries and company sizes. Businesses have turned more cautious in recent months, but that has yet to impact their hiring and firing decisions.”
Professional and business services added the most jobs at 35,000, followed by trade, transportation and utilities, up 24,000, and construction, up 23,000. Manufacturing was the only sector to lose jobs, down 8,000.
Large employers added 81,000 jobs; small businesses added 50,000.
The report is derived from ADP’s actual payroll data.
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