Jobs
US Firms Add 239,000 Jobs, Boosted by Leisure Sector, ADP Says
- Payrolls increased 210,000 in leisure and hospitality industry
- October employment gain was concentrated in West region
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Hiring at US companies rose in October by more than forecast, mainly reflecting a surge in leisure and hospitality and underscoring resilient labor demand despite the Federal Reserve’s efforts to cool the economy.
Private payrolls rose 239,000 last month after a revised 192,000 gain in September, according to data from ADP Research Institute in collaboration with Stanford Digital Economy Lab. The median forecast in a Bloomberg survey of economists called for a 185,000 advance.