More private sector jobs than expected were created in the U.S. last month. However, it was barely enough to ward off the doomsayers predicting a double-dip recession.
Payroll processor and HR services company ADP, and its partner, Macroeconomic Advisers, said 110,000 jobs were added to the U.S. economy in October. That was more than the 100,000 average expected by economists. The monthly report released this morning also revised to 116,000 the number of new jobs added in September. Originally, ADP reported 91,000 jobs were created.
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ADP Says U.S. Added 110,000 Jobs In October
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