About 130K new Jobs Added to US Companies in October


About 130K new Jobs Added to US Companies in October

As the 16-day partial government shutdown slowed down in U. S., all the private companies added 130,000 jobs in October. ADP, Payroll Prof., said that earlier in the month of August, the company reported to increase the number of jobs to about 166,000 but, had just created 145,000 jobs in September.

The job market was already weakened even before the start of the shutdown in 1, October. The employers were also worried about the standoff over raising the federal borrowing limit. A survey was conducted by the ADP, in which the job figures revealed in the month of September were the fewest after April.

The process of hiring was also slow in the companies having number of employees less than 500. In comparison with the figures revealed in October, there seems to be a decrease in the number of jobs to 107,000 from 130,000.

Jim O'Sullivan, chief U. S. economist at High Frequency Economics, said that the data revealed by the ADP points to some negative effects of the shutdown that took place in Washington. This shutdown asked the government to temporary layoff the workers. Not even this, some companies were also offered to hold off the recruitment of new workers.

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