Non-governmental employers added a robust 233,000 jobs in October, a sharp acceleration from the 159,000 net increase reported for September, according to ADP’s latest National Employment Report.
Job gains were fully expected to drop off in October not only because of an ongoing slowdown in the labor market but also because the month’s data would be influenced by three major events and their ripple effects: the ongoing Boeing machinists’ strike, Hurricane Helene and Hurricane Milton.
“Even amid hurricane recovery, job growth was strong in October,” Nela Richardson, chief economist at ADP, said in a statement. “As we round out the year, hiring in the US is proving to be robust and broadly resilient.”
Wednesday’s gains throttled economists’ expectations for job growth to slow to a mere 108,000 jobs from the initial estimate of 143,000, FactSet estimates show.
not that this will stop the whining from the usual cast of right wingers here.
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