US private sector job growth picks up in October

[WASHINGTON] US private employers added 125,000 jobs in October, slightly above economists' expectations, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 120,000 jobs, with estimates ranging from 40,000 to 190,000.

Private payroll gains in the month earlier were revised down to 93,000 from an originally reported 135,000 increase.

The report is jointly developed with Moody's Analytics.

The ADP figures come ahead of the US Labour 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 80,000 jobs in October, down from 114,000 the month before. Total non-farm employment is expected to have increased by 85,000.

The unemployment rate is forecast to tick up to 3.6 per cent from the 3.5 per cent recorded a month earlier. 

REUTERS