U.S. Private Sector Adds 130,000 Jobs In October: ADP
Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 150,000 jobs. The report is jointly developed with Moody’s Analytics. The data comes against the backdrop of a federal government shutdown in the first half of the month, as congressional Republicans sought to undermine President Barack Obama’s signature health care law as a condition of funding the government. Analysts fret that the impasse in Congress dragged on the economy.
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