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Payroll processor ADP released a report on Wednesday showing private sector employment in the U.S. rebounded by more than expected in the month of October. ADP said private sector employment climbed by 42,000 jobs in October after slipping by a revised 29,000 jobs in September. While private sector employment rebounded following two months of weak hiring, ADP noted the bounce wasn't broad-based. The education and health care and trade, transportation, and utilities sectors led the growth, but employers in the professional business services, information, and leisure and hospitality sectors shed jobs for the third straight month. ADP noted year-over-year pay growth for both job-stayers and job-changers was unchanged compared to the previous month at 4.5 percent and 6.7 percent, respectively. Powered by Commodity Insights
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