Job Growth In Private Sector Recovers In October But Misses Estimates – By Helder Marinho (IB Times) / Nov 1, 2023
The pace of job creation by private companies accelerated in October, but still came in below estimates.
New jobs in October totaled 113,000, an increase from 89,000 in September and well below the 180,000 of August, payroll processing company ADP said in a statement Wednesday. The number was below the estimate of 150,000 in a Reuters’ survey of economists.
Annual pay rose 5.7% from a year earlier, after the gain of 5.9% in September. It was the 13th consecutive month of slowdown and the smallest increase since October 2021.
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