US private sector added jobs more than expected
Written by Mansi   
Wednesday, 02 November 2011 19:53

The Private sector added 110000 jobs in the month of October as the planned layoffs dropped sharply, signaling that the economy is on a path of growth. Economists expected a job additions of 100000 jobs.

 

The Servcies sector and the small business led the rise in the jobs. The Services employment gained by 114000 and goods producing jobs declined by 4000. Small business added 58000 jobs, 53000 added by medium enterprises and the large businesses employment fell by 1000.

 

The ADP National Employment Report also revised the September job additions to a gain of 116000 jobs compared to 91000 reported earlier.

 

The ADP report comes ahead of the government's comprehensive labor market report, which will be released on Friday and includes public and private jobs data. The non farm employment has been growing. Analyst expect the labor department to report a weak growth in non farm payroll up by  90000 compared to 103000 in September, The unemployment rate is also expected to remain at 9.1%.

 

 

 

 

 

Last Updated on Wednesday, 09 November 2011 09:44
 

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