US October private employment rises 365,000, below expectations

Washington, Nov 4 (AFP/APP):Private employers added 365,000 jobs in the United States in October, a survey said Wednesday, a significant undershoot in hiring as the economy recovers from the coronavirus downturn amid the uncertain presidential election.

Forecasters had expected almost twice that number of new jobs in October, and the report from payroll services firm ADP is a potentially ominous sign ahead of Friday’s data from the Labor Department that will update the national unemployment rate for the month.

The seasonally adjusted data comes as the results of Tuesday’s election in which President Donald Trump vies for a second term against challenger Joe Biden remain undetermined.

Among the issues on voters’ minds was the state of the world’s largest economy, which expanded under Trump and reached record-low unemployment only to swiftly be undone by Covid-19’s arrival, which prompted business shutdowns starting in March.

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