Financial News: U.S. Private Sector Employment Surges Much More Than

U.S. Private Sector Employment Surges Much More Than Expected In October

10/30/2024 - 08:21:00 (RTTNews)

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

ADP said private sector employment surged by 233,000 jobs in October after jumping by an upwardly revised 159,000 jobs in September.

Economists had expected private sector employment to climb by 115,000 jobs compared to the addition of 143,000 jobs originally reported for the previous month.

"Even amid hurricane recovery, job growth was strong in October," said ADP chief economist Nela Richardson. "As we round out the year, hiring in the U.S. is proving to be robust and broadly resilient."

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