Economics
U.S. Companies Add More Jobs Than Forecast, ADP Data Show
- Gain of 571,000 jobs in October was the largest since June
- Acceleration could portend strong nonfarm payrolls report
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U.S. companies added the most jobs in four months, suggesting employers are making progress in filling a near-record number of open positions.
Businesses’ payrolls increased by 571,000 last month, after a revised 523,000 gain in September, according to ADP Research Institute data released Wednesday. The median forecast in a Bloomberg survey of economists called for a 400,000 rise.