- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
- Skiing calls on UN climate science to combat melting future
- China wine industry looks to breed climate resilience
- Tokyo rallies on weak yen, Hong Kong drops after surge
- Dutch airline KLM unveils 'firm' cost-cutting measures
US private hiring posts surprise uptick in October: survey
Private US companies hired more workers than expected in October, as restaurants and retailers stepped up hiring ahead of the festive season, according to data from payroll firm ADP Wednesday.
Firms added 239,000 jobs in October, up from 192,000 in the prior month, the report said, with the impact of the Federal Reserve's aggressive policy limited to only some sectors.
The central bank has been ramping up interest rates to cool demand and fight surging inflation, amid fears the strong labor market will cause a wage spiral.
The Fed is widely expected to press on with a fourth straight steep rate hike on Wednesday.
"This is a really strong number given the maturity of the economic recovery but the hiring was not broad-based," said ADP chief economist Nela Richardson.
There has been a pullback among goods producers, who are sensitive to interest rates, while workers who changed jobs are getting smaller pay gains than previously, Richardson said in a statement.
The impact hit manufacturing in particular, which lost 20,000 positions last month, according to the report.
"While we're seeing early signs of Fed-driven demand destruction, it's affecting only certain sectors of the labor market," she said.
Workers saw their annual pay gains ease slightly to 7.7 percent, according to ADP's recently revamped report, which includes wage data.
Employees who changed jobs still saw "double-digit, year-over-year pay increases, but momentum in those gains is ebbing," the report said.
For this group, annual pay growth dropped for a third straight month, to 15.2 percent in October from 15.7 in September.
"Overall, the labor market remains tight and demand is showing few signs of cooling," said economist Rubeela Farooqi of High Frequency Economics.
"We expect job growth to remain positive for now. But the pace is expected to slow in response to Fed rates hikes," she added.
T.Morelli--CPN