US Private Employers Added 86,000 Jobs in October, Beating Expectations

The backdrop to October's hiring report was a rise in demand for workers. US job openings increased by 333,000 in September to 7.52 million, from a revised 7.19 million in August, Bloomberg Economics reported on November 3.

That was an encouraging signal for job seekers, but vacancies did not tell the whole story. Times of India reported that layoffs had fallen while hiring remained slow.

On November 3, Bloomberg Economics also reported increases in factory orders and durable goods orders. Those figures accompanied the rise in job openings, providing a broader backdrop to the next day's employment report.

On November 4, ADP reported that private companies added 86,000 jobs in October, according to CNBC. That exceeded the forecast of 65,000, although it was below the previous gain of 90,000, according to investingLive.

The sector figures showed an uneven picture. Construction added 13,000 jobs, compared with 15,000 previously. Financial activities added 15,000, reversing a previous loss of 16,000, investingLive reported.

Other industries shed workers. Manufacturing lost 1,000 jobs after previously adding 17,000. Natural resources and mining lost 8,000, while professional and business services lost 27,000, according to investingLive.

The report points to steady private sector hiring rather than a sharp acceleration. Bloomberg Economics described the October figures as an early sign of momentum in a broadly stable labor market.

The breadth of hiring offered some encouragement. CNBC reported that gains were spread across sectors, while MarketWatch said more industries were hiring but employers remained cautious. The stronger headline therefore sits alongside substantial losses in some industries.