ADP: 365,000 Jobs Gained in October

The non-farm private sector added 365,000 jobs in October, according to the ADP National Employment Report. This follows a revised September increase of 753,000 jobs.

Small businesses with fewer than 50 employees added 114,000 jobs. Medium-sized businesses with 50-499 employees gained 135,000, while large businesses added 116,000 jobs.

“The labor market continues to add jobs, yet at a slower pace,” said Ahu Yildirmaz, vice president and cohead of the ADP Research Institute. “Although the pace is slower, we’ve seen employment gains across all industries and sizes.”

Service-providing employment led the increase with 348,000 jobs added, driven by the leisure & hospitality and education & health sectors, which gained 125,000 and 79,000 jobs respectively.

Goods-producing employment increased by 17,000 jobs. The manufacturing sector added 7,000 jobs. Natural Resources/mining and construction gained 3,000 and 7,000 jobs, respectfully.

Read the ADP report.