U.S. Private Sector Creates 235K Jobs
Job growth south of the border roared back last month after taking a hurricane-induced hit in September, according to the latest ADP National Employment Report published on Wednesday.
ADP projects employers created 235,000 new positions in October – more than doubling the 110,000 jobs tacked on in September and reaching a seven-month high.
Indeed, service-providing professions surged with 150,000 October additions. Professional and business services employers added 109,000 jobs – a survey high going back to early 2002 – while health care outfits created 44,000 new positions, which is tied for the second-best month of the year so far.
Goods producers, meanwhile, tacked on 85,000 jobs, with construction outfits – likely bolstered by hurricane repair efforts in Florida and Texas – creating 62,000 new positions for the industry's best performance since 2006. Manufacturers also generated 22,000 additional jobs last month.