The US economy added 42,000 private-sector jobs last month, more than expected

(CNN) — Private-sector job creation bounced back in October, according to a snapshot of the labor market that has become more closely watched in the absence of official federal jobs data.

Payroll processing company ADP on Wednesday estimated that private-sector businesses added an estimated 42,000 jobs last month, a swing into positive territory after back-to-back months of job losses.

While October marked a return to job growth, ADP’s chief economist cautioned that the pace of hiring is running far below the pace seen during the past year.

“That recovery is tepid, and it is not broad-based,” Nela Richardson, ADP’s chief economist, said during a call with reporters on Wednesday.

ADP’s monthly tally has shown a significant slowdown in the job market since the summer, with net losses fo