Private payrolls grew at a faster-than-expected pace in October, but the solid growth was offset by a sharp downward revision for the previous month, according to a survey released Wednesday.
Companies hired 125,000 employees in October, according to ADP and Moody’s Analytics, 25,000 more than expected by economists polled by Dow Jones.
Medium-size businesses, those employing 50 to 499 people, led the pace, hiring 64,000 people. Large businesses added 44,000 jobs while small businesses saw jobs expansion of 17,000.
Payrolls within the services sector increased by 138,000 this month, led by a 41,000 increase in the education and health services space. Trade, transportation and utilities…