Private sector October job growth beats expectations

[dennis4868]

U.S. companies added to payrolls more than expected in October, slightly boosting optimism about the job market ahead of Friday's government employment report.

U.S. private employers added 43,000 jobs in October compared with a revised loss of 2,000 jobs in September, payrolls processor ADP Employer Services, which developed the report with Macroeconomic Advisers LLC, said on Wednesday. The September figure was originally reported as a loss of 39,000.

The October number came in well above expectations for a rise of 20,000 private-sector jobs, based on a median of estimates from 35 economists surveyed by Reuters.


It was the latest of some stronger-than-expected data on the U.S. economy, including Monday's report showing surprisingly strong growth last month in the U.S. manufacturing sector, and among the last bits of data before Wednesday's expected Federal Reserve announcement on monetary easing.

On Friday, the U.S. government is due to report its monthly jobs data, and the ADP is sometimes used by economists to update expectations for those numbers.

Read more....http://www.ibtimes.com/articles/78292/20101103/private-sector-october-job-growth-beats-expectations.htm

This is Obama bad luck...a decent jobs report comes out a few days after the election. I am sure the repubs will take credit for this and the media will give them the credit. Just wait and see.