Record US job growth continues, ADP report shows

New data released on Wednesday showed the US labour market was still running hot, with the private sector, in particular, adding many more jobs than forecast during September.

Private employers added 230,000 jobs last month, the biggest monthly gain in seven months, according to a report from payroll processor ADP, easily beating expectations for an improvement of just 184,000.

The service sector carried much of the weight, adding 184,000 jobs throughout the month.

Moody's chief economist Mark Zandi, said: "The job market continues to power forward."

"Employment gains are broad-based across industries and company sizes. At the current pace of job creation, unemployment will fall into the low 3%’s by this time next year."

The ADP data serves as a precursor - albeit historically an imperfect one - to the US non-farm payrolls data, due on Friday.

The closely watched monthly jobs report from the Labour Department is expected to reveal that 190,000 jobs were added in last month and that the unemployment rate fell to 3.8% - its lowest level since 1969.