ADP October jobs estimate beats expectations

Private-sector employment increased by 235,000 in October, on a seasonally adjusted basis, ADP estimated Wednesday.

In September, ADP says 110,000 jobs were added, compared to the earlier estimate of 135,000 jobs added.

Economists surveyed by IFR Markets projected a 200,000 job gain for October.

“The job market rebounded strongly from the hit it took from Hurricanes Harvey and Irma,” said Mark Zandi, chief economist of Moody’s Analytics. “Resurgence in construction jobs shows the rebuilding is already in full swing. Looking through the hurricane-created volatility, job growth is robust.”

BB-110217-ADP

For reprint and licensing requests for this article, click here.
Economic indicators
MORE FROM BOND BUYER