The ADP report revealed that private sector employment growth in October surpassed economists' forecasts.

Data released by the ADP Research Institute and Stanford Digital Economy Lab showed private sector employment rose by 42,000 in October (against expectations of 30,000), while September's revised figure indicated a loss of 29,000 jobs.

Forecasts from 31 economists ranged between a decline of 20,000 and an increase of 70,000.

Goods-producing sectors added 9,000 positions.

Service-providing sectors contributed 33,000 new jobs.