Private sector adds 86,000 jobs in October, beating estimates

Summarised from 2 outlets · Updated 4 Nov, 18:40 · Archive

Private companies added 86,000 jobs in October, according to ADP, exceeding economist expectations.

Private companies added 86,000 jobs in October, ADP reported on Wednesday. The figure exceeded some analyst estimates of around 65,000 to 75,000 jobs. Employment gains were spread across the service sector, led by trade, transportation and utilities, which added 39,000 positions. Education and health services contributed 28,000 jobs, leisure and hospitality added 19,000, financial activities added 15,000, and construction added 13,000.

Some sectors lost jobs. Professional and business services declined by 27,000, natural resources and mining fell by 8,000, and information services lost 2,000. Salary growth accelerated, particularly for workers changing jobs, who saw 4.8% annual pay gains. Workers who changed employers also received bonuses, overtime and more hours alongside higher base pay.

ADP chief economist Nela Richardson said: 'Employers of all sizes were hiring last month, and our data suggests that job-changers were lured by a combination of bonuses, overtime, and more hours in addition to higher base pay.' She noted that earnings growth for job-changers hit its fastest pace since March 2024. Across all business sizes, medium-sized companies (50 to 499 employees) led hiring with 33,000 new jobs, followed by small firms (28,000) and large businesses (24,000).

The ADP figures precede the Labour Department's official nonfarm payrolls report due Friday, which is expected to show an increase of 65,000 positions and an unemployment rate of 4.2%.

How it is being reported

• Private sector added 86,000 jobs in October, exceeded expectations: ADPCompanies in the private sector added 86,000 jobs in October, payroll processing firm ADP said in its latest report on Wednesday.New York Post · 4 Nov, 18:29
• Private companies added 86,000 jobs in October, slightly higher than expected, ADP saysPrivate-sector job growth held steady in October, with gains spread across sectorsCNBC · 4 Nov, 13:37

In this story: ADP · Nela Richardson · United States

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