US private sector payroll growth rebounds in October
By Alexander Bueso
Date: Wednesday 30 Oct 2024
(Sharecast News) - Private sector hiring in the States picked up in October notwithstanding hurricane recovery efforts, the results of a survey revealed.
Consultancy ADP's reported a 233,000 rise in private sector payrolls.
That followed a print of 159,000 for the month before and beat economists' forecasts for a reading of 233,000.
"Even amid hurricane recovery, job growth was strong in October," said Nela Richardson, chief economist at ADP.
"As we round out the year, hiring in the U.S. is proving to be robust and broadly resilient."
Hiring was strongest among 'large' firms, or those with more than 500 staff, which added 140,000 employees.
By sectors, Education and Health Services saw a 53,000 jump in hiring, followed by 51,000 more staff in Trade, Transportation and Utilities and the addition of 37,000 in Leisure and Hospitality.
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