The payroll processing giant ADP released data on Wednesday showing that the U.S. added about 42,000 private sector jobs in October, indicating that the labor market may be stabilizing after several months of significant declines. According to a report by The Wall Street Journal, this number represents a significant improvement from the 29,000 net loss in September, nearly twice the expected figure of some economists. Although the ADP data is not as comprehensive as the government's monthly employment report, this better-than-expected result "provided some confidence in the overall stability of the labor market amid signs of weakness in certain industries."
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