Key facts
- Economists polled by Reuters had forecast private employment increasing by 69,000 in October.
- September's gain was revised down to 86,000 from a previously reported 90,000 advance.
- The ADP report is jointly developed with the Stanford Digital Economy Lab.
- The BLS is due to publish its more comprehensive October employment report on Friday.
US private employment rose by 86,000 jobs in October, ADP's National Employment Report showed on November 4, after a downwardly revised gain of 86,000 in September. Economists polled by Reuters had forecast an increase of 69,000, against a previously reported September advance of 90,000.
The ADP report is jointly developed with the Stanford Digital Economy Lab and was published ahead of the Bureau of Labor Statistics' more comprehensive October employment report, due on Friday. ADP has been a poor gauge of the BLS private payrolls estimate, according to the report.
The BLS reported on November 3 that there were 1.06 open jobs for every unemployed person in September, up from 1.02 in August. A Reuters survey of economists points to private payrolls rising by 64,000 in October after 46,000 in September, nonfarm payrolls advancing by 65,000 after 29,000, and the unemployment rate unchanged at 4.2%.