Good News Out Of ADP Employment Report

The ADP Employment Report for October reports that employment increased by 110,000 last month, fueled by growth at small and medium size businesses (up to 499 workers). Growth was strong in the service sector, with last month marking the 20th straight month of employment gains.

Also out today is a report from outplacement firm Challenger, Gray, and Christmas which says that layoffs last month fell to 42,759, a 63% drop from September and the lowest level since June.

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