Private payroll growth in the United States picked up pace in October, rebounding more sharply than anticipated, according to data released Wednesday by ADP.
The payroll firm reported that private sector employment increased by 42,000 positions last month, recovering from a revised decline of 29,000 jobs in September.
Economists had forecast a smaller gain of around 25,000 new jobs, compared with the initially reported loss of 32,000 in the prior month.