U.S. companies added the most jobs in four months, suggesting employers are making progress in filling a near-record number of open positions.
Businesses’ payrolls increased by 571,000 last month, after a revised 523,000 gain in September, according to ADP Research Institute data released Wednesday. Companies are desperate to hire workers as labor shortages continue to plague production and boost prices. Still, total employment measured by ADP remains well below its pre-pandemic level, suggesting higher wages and sign-on bonuses aren’t doing enough to attract and retain talent in a labor market where jobseekers are increasingly choosy.
