Market 11/05: Private Employment Recovers

ADP: Private employment rebounds in October

• US added 42,000 private jobs in October, higher than 32,000 forecast and strong improvement from -29,000 previous month

• Services added 32,000 while manufacturing added 9,000

• By sector:

• By business size:

  • Small businesses lost jobs for 3 consecutive months

• Wage growth for job switchers and stayers both at normal levels

→ Good report, continues to show labor market in balanced state