US companies add 239,000 jobs in October - ADP

US companies added 239,000 jobs in October, according to ADP, with the leisure and hospitality sector doing most of the heavy lifting.

October's reading beat estimates for a print of 195,000 and September's downwardly revised 192,000 reading and came alongside a 7.7% year-on-year increase in overall wages.

The leisure and hospitality sector added 210,000 positions, with wage growth rising 11.2%, with services-related industries adding 247,000 and goods-producing sectors losing 8,000 jobs.

Companies with between 50 and 249 staff members accounted for virtually all the gains, adding 241,000 jobs throughout the month.

Putting aside the strong headline number, information, professional and business services, and financial activities showed losses of 17,000, 14,000 and 10,000, respectively.

Reporting by Iain Gilbert at Sharecast.com