US private sector employers added 42,000 jobs in October

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Private employers in the US added 42,000 jobs in October, according to unofficial data that investors are relying on due to the government shutdown.

Wednesday’s figure from payrolls processor ADP was above the 30,000 increase forecast by economists polled by Bloomberg and compared with a loss of 29,000 jobs in September.

The longest-ever federal government shutdown has disrupted the release of official economic statistics, forcing investors and policymakers to pay more attention to privately produced data.

The figures come a week after the Federal Reserve cut interest rates but tempered expectations of a further reduction in December, as the shutdown deprived officials of a clear picture of the economy.

This is a developing story