The job picture south of the border showed signs last month of brightening, only a couple of days ahead of the larger employment release.
Figures put out Wednesday by payroll processing firm ADP showed private job creation popped in October, thanks to a burst in hiring in the hospitality sector.
Companies added 571,000 for the month, beating the 395,000 Dow Jones estimate and just ahead of September’s downwardly revised 523,000. It was the best month for jobs since June.
Leisure and hospitality, a category that includes bars, restaurants, hotels and the like, saw a gain of 185,000 for a sector that remains well below its pre-pandemic employment level. The sector is seen as a proxy for an economic recovery that stalled over the summer due to a rise in the delta COVID variant and a massive clog in supply lines.
Investors are awaiting the release of non-farm payrolls in the States, set for Friday morning.