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US ADP: Private sector job growth slowed in October

FXStreet (Mumbai) - The data released by the Automatic Data Processing, Inc, (ADP) showed the US private sector added slightly more jobs in October than the consensus estimate, but overall jobs growth slowed as compared to September.

The ADP report showed private sector in the US added 182K jobs in October. Economists had called for the report to show private employers added 180K jobs, compared to 200K in September.

Small sized firms (1-49 employees) added 90K jobs, Mid-sized firms (50-499 employees) added 63K jobs, and Large sized firms (500+ employees) added 29K jobs. Sector wise details reveal 158K jobs were added by the service industry, while the goods-producing sector added 24K jobs in August.

A Labor Department report – Non-farm payrolls - on Friday is projected to show employers, including government agencies, took on 182,000 workers last month, while the jobless rate remained steady at 5.1%.

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