U.S. October private-sector jobs rise 110K: ADP
U.S. October private-sector jobs rise 110K: ADP (by Ruth Mantell)
WASHINGTON (MarketWatch) -- Private-sector payrolls increased 110,000 in October, led by the service-producing sector and small businesses, according to the ADP employment report released Wednesday. The September level was revised up to 116,000 from a prior estimate of 91,000. Markets look to ADP's report on private-sector payrolls to provide some guidance on the U.S. Labor Department's jobs estimate, which will be released Friday and includes information on both private- and public-sector payrolls. Analysts polled by MarketWatch expect the Labor Department to report a slight slowdown for employment, with overall nonfarm payrolls up a weak 90,000 in October, compared with 103,000 in September. Analysts also expect the unemployment rate to remain at 9.1%.