Private sector employment in the United States rose by 571,000 positions in October, well above consensus forecasts of 395,000, according to Nov. 3 payroll data from the Automatic Data Processing (ADP) Research Institute. “The labor market showed renewed momentum last month, with a jump from the third quarter average of 385,000 monthly jobs added, marking nearly 5 million job gains this year,” said Nela Richardson, ADP chief economist, in a statement. There was an encouraging acceleration in small business hiring (115,000), though large firms led the gains (342,000), with mid-sized businesses adding 114,000 jobs. “Service sector providers led the increase and the goods sector gains were broad based, reporting the strongest reading of the year. Large companies fueled the stronger recovery in October, marking the second straight month of impressive growth,” Richardson said. Leisure and hospitality accounted for the bulk of the gains, adding 185,000 positions, followed by professional and business …