Increased Number of Jobs in October

It was reported by the Automatic Data Processing firm that employers added 110,000 jobs in October and also made a decrease in job cuts. Small firms led the charge, adding over half (58,000) of the total number of jobs created in October. Medium sized businesses accounted for 53,000 where the largest only added 1,000, creating concern among economists.

In addition, planned layoffs dropped from 63% from the previous month. Government and financial sectors lead the way for this huge drop in layoffs. Although strides are being made, job cuts are still up 16% from where they were at this time last year.

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