US private sector added 110,000 jobs in October
November 3rd, 2011 - 11:22 am ICT by IANSNew York, Nov 3 (IANS/EFE) Private employers in the US created 110,000 jobs last month, payroll processing firm Automatic Data Processing Inc. said Wednesday.
“October’s job growth came exclusively from the services sector,” ADP’s CEO, Gary C. Butler, said in comments accompanying the National Employment Report, produced in partnership with Macroeconomic Advisers, LLC.
“Such a result explains the growth in professional and business services employment. It also reflects manufacturers’ uncertainty around investment and hiring,” Butler said.
“Nevertheless, we are seeing a better balance between small- and medium-sized business job growth compared to previous months.”
ADP also revised upward its jobs-added figure for September, from 91,000 to 116,000.
The October number “suggests that employment continued to grow moderately”, according to Joel Prakken, chairman of Macroeconomic Advisers.
While the services sector generated 114,000 new positions last month, goods-producing companies eliminated 4,000 jobs, ADP said.
Jobs gains were almost evenly divided between small and medium-sized firms, as companies with more than 500 employees saw 1,000 jobs lost.
A separate report released Wednesday by consultants Challenger, Gray & Christmas said US employers got rid of 42,759 workers last month, compared with 115,730 layoffs in September.
Layoffs in the first 10 months of the year totaled 521,823, up 16 percent from the same period in 2010, Challenger said.
Though the US economy created 103,000 net new jobs in September, unemployment remained unchanged at 9.1 percent. The rate has been above 8 percent since February 2009, the longest period of elevated joblessness since 1948.
–IANS/EFE
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- US private sector jobs increase by 110,000 in October - Nov 03, 2011
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- Brazil created record 2.52 mn new jobs in 2010 - Jan 20, 2011
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