By Mucahithan Avcioglu
ISTANBUL (AA) - US private payrolls rose by 42,000 in October, above market forecasts, according to a report released Wednesday by the ADP Research Institute.
Markets had expected the figure to show a rise of 32,000 in October, following an upwardly revised 29,000 decline in September.
"Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year," said Nela Richardson, chief economist at ADP.
"Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced," she added.
The report said education and health care, trade, transportation, and utilities led the growth last month.
In October, however, professional business services, information, and leisure and hospitality all saw declines for the third consecutive month.
Trade, transportation, and utilities posted the highest gain by adding 47,000 jobs, followed by education and health services with 25,000.
They were followed by 11,000 new jobs in financial activities, 7,000 in natural resources and mining, and 5,000 in construction.
Meanwhile, information services saw the biggest job losses with 17,000, followed by professional and business services with 15,000 losses, and other services with 14,000 losses.