Companies added fewer workers than projected in October,indicating the U.S. job market lost momentum amid budget strife inWashington, a private report based on payrolls showed today.
The 130,000 increase in employment was the smallest in sixmonths and followed a revised 145,000 gain in September that wasweaker than initially estimated, according to the ADP ResearchInstitute in Roseland, New Jersey. The median forecast of 39economists surveyed by Bloomberg called for an advance of 150,000jobs.
The monthly figures are the first to show how employment faredduring a 16-day partial federal shutdown that started Oct. 1 andresulted in the furlough of some contractors and other workers.Federal Reserve policy makers meeting today are watching job-marketprogress as they debate when to scale back record monetarystimulus.
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