Companies add 42,000 jobs in October
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Private-sector employment jumped by 42,000 in October, according to data released by ADP that provides a snapshot of the overall jobs market. The ADP data, pulled from its customers’ payrolls,
The absence of official economic and labor statistics amid the government shutdown leaves business leaders depending on sometimes clashing reports from private sector data providers.
Employers slashed more than 150,000 jobs in October, the largest wave of layoffs in more than 20 years, Challenger, Gray & Christmas said.
The dollar retreated in early Asia trade on Friday, leading declines among major currencies as investors lacking official data on the U.S. labour market seized upon signs of weakness in private sector surveys.
Employers announced over 153,000 job cuts last month, marking the worst October for layoff announcements in 22 years.
Health care occupations, as well as data science and tech related jobs, are expected to see among the fastest growth in employment between now and 2032, according to a presentation from the University of Michigan’s Economic Growth Institute to the House Education and Workforce Committee on Wednesday.
Economic development experts and construction industry officials say the data centers indirectly create jobs and steady work tradespeople.