The US private sector added approximately 42,000 jobs in October, according to figures released moments ago by ADP. This follows a loss of approximately 32,000 jobs in September and exceeded expectations of a 32,000 job gain.

Specifically, construction added about 5,000 jobs, while manufacturing lost 3,000. The trade, transportation, and utilities sector led the service sector with an increase of 47,000 jobs, followed by the financial sector with 11,000 jobs and the education and healthcare services sector with 25,000 jobs.