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US private job growth hits 7-month high as storm effect fades -ADP

[NEW YORK] US companies added the most workers in seven months in October as hiring rebounded from a drop in September stemming from Hurricanes Harvey and Irma, a report by a payrolls processor showed on Wednesday.

The ADP National Employment Report said private employers hired 235,000 workers last month, exceeding a median forecast of 200,000 among economists polled by Reuters.

Domestic private payrolls in September were revised down to an increase of 110,000 from the previous 135,000.

The report is jointly developed with Moody's Analytics.

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The ADP figures come ahead of the US Labor Department's more comprehensive non-farm payrolls report on Friday, which includes both public and private-sector employment.

Economists polled by Reuters are looking for US private payroll employment to have grown by 303,000 jobs in October, versus a drop of 40,000 the month before. Total non-farm employment is expected to have increased by 312,000.

The unemployment rate is forecast to stay steady at 4.2 per cent.

REUTERS

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