US private payrolls rise by 233,000 in October, higher than estimates

By Ovunc Kutlu

ISTANBUL (AA) - US private payrolls rose by 233,000 in October, much higher than market estimates, according to a report released Wednesday by ADP Research Institute.

The figure came in much higher than market expectations of 110,000, following a 159,000 increase in September.

The report said job creation hit its highest level since July 2023 as the US economy worked through hurricane recovery, but noted that manufacturing was the only sector to shed jobs.

"Even amid hurricane recovery, job growth was strong in October," Nela Richardson, the ADP chief economist, said in a statement.

"As we round out the year, hiring in the U.S. is proving to be robust and broadly resilient," she added.

Among businesses, small businesses added 4,000 jobs, while mid-sized and large enterprises experienced gains of approximately 86,000 and 140,000 jobs, respectively.