Private-sector employment growth slowed in October, as firms adding the fewest jobs in six months and Washington’s partisan bickering over spending hit the labor market, payrolls processing firm Automatic Data Processing Inc. reported Wednesday.
Private employers added 130,000 jobs this month — the fewest since April — down from 145,000 in September, according to ADP. The broader trend also shows a weakening: Over the three months through October, the economy gained an average of 142,000 jobs per month, down from an average of 220,000 at the start of the year.
“Any further weakening would signal rising unemployment. The weaker job growth is evident across most industries and company sizes,” said Mark Zandi, chief economist of Moody’s Analytics, which prepares the report using ADP’s data.
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via Private job gains lowest in six months: ADP – Economic Report – MarketWatch.
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