U.S. Companies Add Most Workers in Seven Months, ADP Data Show
Companies added more workers to U.S. payrolls in October, data from the ADP Research Institute showed Wednesday. Private payrolls rose by 235,000, according to ADP, while the median estimate of economists surveyed by Bloomberg called for an advance of 200,000. The gain in the prior month was revised to 110,000 from 135,000.
U.S. Companies Add 235,000 Jobs in Oct. ADP Report
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Companies added more workers than forecast to U.S. payrolls in October, indicating hiring snapped back after hurricanes Harvey and Irma, according to data released Wednesday from the ADP Research Institute in Roseland, New Jersey.
The report indicates resilience in the labor market and is consistent with other data that show the economy is recovering from the tropical storms. Employment is expanding as businesses remain optimistic about the outlook, at the same time employers face the challenge of finding skilled workers as the job market is tightening. The ADP results are also a sign that the government will report Friday a rebound in private payrolls for October.