Services’ Expansion Encourages U.S. Job Gains

Service industries including retailers, builders and health care providers continued to expand in October, encouraging companies that make up the biggest part of the U.S. economy to boost hiring.

The Institute for Supply Management’s non-manufacturing index was at 57.1, exceeding the average for the first six months of the year, even though it was below the prior month’s 58.6. Readings greater than 50 signal growth.

The Tempe, Arizona-based group’s measure of employment rose for a sixth straight month, reaching the highest level in more than nine years.

Bloomberg

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