US private sector sheds average of 11,250 jobs per week in October - ADP

(Sharecast News) - The US private sector shed an average of 11,250 jobs per week in the four weeks to 25 October, according to a report released by ADP on Tuesday. ADP said the data suggests that "the labour market struggled to produce jobs consistently during the second half of the month".

The most recent monthly report from ADP, out last week, showed the private sector added 42,000 jobs in October.

Nela Richardson, chief economist at ADP, said at the time: "Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year.

"Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced."