U.S. Private Sector Employment Exceeded Expectations in October 2023.

Positive Developments in U.S. Employment Data

In October, optimistic data emerged regarding private sector employment in the U.S. According to the data released by ADP, private sector employment increased by 42 thousand people. This situation indicates a performance above the expectations of economists in the Bloomberg survey, as participants had predicted an increase of 30 thousand in employment.

September Data Revised

On the other hand, the private sector employment data for September was re-evaluated. Initially announced as a 32 thousand drop, the September data was revised to a 29 thousand drop. This made the increase in October's data even more significant.