ADP SAYS U.S. COMPANIES ADDED 162,000 WORKERS TO PAYROLLS

Companies added more workers than projected in September, evidence the labor market may be perking up, a private report based on payrolls showed. The 162,000 increase in employment followed a revised 189,000 jump in August, figures from Roseland, New Jersey-based ADP Employer Services showed today. The median forecast of 38 economists surveyed by Bloomberg projected a 140,000 advance. The hiring gains, which were led by companies with fewer than 500 workers, will help shore up consumer confidence and spending, which in turn will bolster economic growth. A Labor Department report on Oct. 5 may show private payrolls increased by 128,000 in September and unemployment rose to 8.2% from 8.1% the prior month, according to the Bloomberg survey. Small and median-size firms continue to be the driving force behind job growth. Hiring at startup and small firms will continue to be the key to the sustainability of the labor market recovery going forward.