ADP report shows jobs growth as white-collar layoffs accelerate

ADP’s latest jobs report shows a U.S. economy that’s taking one step forward and one step back. According to the report released Wednesday morning — which, per ADP, is “an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States” — employers added 42,000 jobs in October. Annual pay was up 4.5%, unchanged from September. On the surface, that could look like a rebound after two months of negative job growth. Bu ...