Private job creation burst to its highest level in more than a year during October, despite a devastating storm season in the Southeast and major labor disruptions, ADP reported Wednesday.
The payrolls processing firm said companies hired 233,000 new workers in the month, better than the upwardly revised 159,000 in September and far ahead of the Dow Jones estimate for 113,000. ADP said it was the best month for job creation since July 2023.
"Even amid hurricane recovery, job growth was strong in October," said Nela Richardson, ADP's chief economist. "As we round out the year, hiring in the U.S. is proving to be robust and broadly resilient."
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