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Financial News: U.S. Private Sector Employment Jumps More Than Expected

U.S. Private Sector Employment Jumps More Than Expected In October

11/03/2021 - 08:24:00 (RTTNews)

(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. increased by more than expected in the month of October.

ADP said private sector employment jumped by 571,000 jobs in October after surging by a revised 523,000 jobs in September.

Economists had expected private sector employment to climb by 400,000 jobs compared to the addition of 568,000 jobs originally reported for the previous month.

"The job market is revving back up as the Delta-wave of the pandemic winds down," said Mark Zandi, chief economist of Moody's Analytics.

"Job gains are accelerating across all industries, and especially among large companies," he added. "As long as the pandemic remains contained, more big job gains are likely in coming months."

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