US Hiring in ADP Data Rises to Fastest Pace in More Than a Year
- Private payrolls rose 233,000 in October, above all forecasts
- Job growth strong despite hurricanes battering Southeast
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Hiring at US companies accelerated by the most in more than a year, pointing to surprisingly solid demand for workers.
Private payrolls increased by 233,000 in October and September was revised higher, according to the ADP Research Institute. That exceeded all estimates in a Bloomberg survey. Manufacturing was the only sector to lose jobs, while education and health services, as well as trade and transportation posted some of the strongest advances.