A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by less than expected in the month of October.
ADP said private sector employment climbed by 113,000 jobs in October after rising by 89,000 jobs in September. Economists had expected employment to jump by 150,000 jobs.
"In all, October's numbers paint a well-rounded jobs picture," said ADP chief economist Nela Richardson. "And while the labor market has slowed, it's still enough to support strong consumer spending."
