US private sector adds 158k jobs in October: ADP
NEW YORK (REUTERS) - US companies added 158,000 jobs last month, data from a payrolls processor showed in a revamped report on the private sector labour market.
The historical data for the ADP National Employment Report was revised as part of the new methodology, which was used for the first time in the October report. September's increase had halved to 88,200 new jobs from an initially reported 162,000.
Economists had forecast October's report would show a gain of 135,000 jobs, according to a Reuters poll.
Economists often refer to the ADP report to fine-tune their expectations for the nonfarm payrolls report due on Friday, though it is not always accurate in predicting the outcome.