Private sector adds 43,000 jobs in October: report

NEW YORK Wed Nov 3, 2010 9:03am EDT

A man walks out of a job fair for military veterans and other unemployed people in Los Angeles, October 7, 2010. REUTERS/Lucy Nicholson

A man walks out of a job fair for military veterans and other unemployed people in Los Angeles, October 7, 2010.

Credit: Reuters/Lucy Nicholson

NEW YORK (Reuters) - U.S. private employers added 43,000 jobs in October compared to a revised loss of 2,000 jobs in September, a report by a payrolls processor showed on Wednesday.

The September figure was originally reported as a loss of 39,000.

The median of estimates from 35 economists surveyed by Reuters for the ADP Employer Services report, jointly developed with Macroeconomic Advisers LLC, was for a rise of 20,000 private-sector jobs in October.

The ADP figures come ahead of the government's much more comprehensive labor market report on Friday, which includes both public and private sector employment.

That report is expected to show a rise in overall nonfarm payrolls of 60,000 in August, based on a Reuters poll of analysts, but a rise in private payrolls of 75,000.

Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome.

(Reporting by Nick Olivari; Editing by Theodore d'Afflisio)

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