JOB FORECAST: Payroll provider ADP said on Thursday that businesses added 158,000 jobs in October, picking up the pace set in the previous month. It said there was growth in construction, transportation and utilities, financial activities, and services. Manufacturing was the only sector that lost jobs.
THE DETAILS: ADP said the job gains accelerated from September, when revised figures showed a gain of 114,000 jobs. ADP is calculating job gains with a different methodology than it had previously used. The new report covers more businesses.
THE OUTLOOK: The report only covers hiring in the private sector, so it excludes government job growth. The Labor Department will offer a more complete picture of October hiring on Friday.