U.S. Private Sector Added 110,000 Jobs in October

U.S. private-sector employers added 110,000 jobs in October, beating economists' expectations, a report by a payrolls processor showed on Wednesday. "October's job growth came exclusively from the services sector," said Gary C. Butler, Chief Executive Officer of ADP. "Such a result explains the growth in professional and business services employment. It also reflects manufacturers' uncertainty around investment and hiring. Nevertheless, we are seeing a better balance between small- and medium-sized business job growth compared to previous months." A Bloomberg survey had expected private employers to add 100,000 in October after adding a revised 116,000 in September, up from the initial September estimate of 91,000, and a revised 89,000 in August. The economy added 109,000 private sector jobs in July, 144,000 in June, and 35,000 in May.