Vertiv Introduces New Single-Phase Uninterruptible Power Supply for Distributed Information Technology (IT) Networks and Edge Computing Applications in Europe, Middle East, and Africa (EMEA)Read more Students from JA Zimbabwe Win 2023 De La Vega Global Entrepreneurship AwardRead more Top International Prospects to Travel to Salt Lake City for Seventh Annual Basketball Without Borders Global CampRead more Rise of the Robots as Saudi Arabia Underscores Global Data and Artificial Intelligence (AI) Aspirations with DeepFest Debut at LEAP23Read more Somalia: ‘I sold the last three goats, they were likely to die’Read more Merck Foundation and African First Ladies marking World Cancer Day 2023 through 110 scholarships of Oncology Fellowships in 25 countriesRead more Supporting women leaders and aspirants to unleash their potentialRead more Fake medicines kill almost 500,000 sub-Saharan Africans a year: United Nations Office on Drugs and Crime (UNODC) reportRead more Climate crisis and migration: Greta Thunberg supports International Organization for Migration (IOM) over ‘life and death’ issueRead more United Nations (UN) Convenes Lake Chad Countries, Amid Growing Regional CrisisRead more

US private employers added 571,000 jobs in October: ADP

show caption
The US private sector saw strong hiring in October, potentially a good sign for the upcoming government jobs report./AFP
Print Friendly and PDF

Nov 04, 2021 - 06:51 AM

WASHINGTON — Private businesses hired 571,000 workers last month, payroll services firm ADP reported Wednesday, the latest sign that the US economy is bouncing back from the Delta wave of Covid-19.

The employment increase was better than analysts had forecast, and saw firms of all sizes add positions, with the bulk of the growth in the services sector, including leisure and hospitality businesses that were badly hit by the pandemic restrictions.

“The job market is revving back up as the Delta-wave of the pandemic winds down,” said Mark Zandi, chief economist of Moody’s Analytics, which collaborates with ADP on the report.

“As long as the pandemic remains contained, more big job gains are likely in coming months.”

The data is often seen as a preview of the Labor Department’s official employment report, which is due out Friday and expected to show the world’s largest economy added 400,000 jobs in October more than double the disappointing result in September as the Delta wave snarled businesses.

The ADP data showed hiring in goods-producing industries picked up, with 113,000 new positions, the biggest gain in a year and coming as ongoing supply chain snarls have harmed factories.

The dominant services sector added 458,000 positions, 185,000 of which were in the leisure and hospitality sector.

ADP’s data does not necessarily mean a strong jobs report, but Ian Shepherdson of Pantheon Macroeconomics said, “The second straight overshoot against consensus has our attention.”

He said he is considering upping his forecast for the official data but noted that ADP “is not always right; at best, it shifts the balance of risks.”

MAORANDCITIES.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.