Economic Buzz: US private payrolls up by 86,000 in October, reports ADP

Private payrolls in the United States grew by 86,000 in October compared to September, according to the ADP National Employment Report published on Wednesday. The figure came in higher than expected. In the goods sector, construction added 13,000 jobs, while natural resources and mining lost 8,000 and manufacturing shed 1,000. In the services sector, trade, transportation, and utilities payrolls increased by 39,000, followed by education and health services at 28,000 and leisure and hospitality at 19,000. Professional and business services cut the most jobs in October at 27,000.

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