ADP Reports 86,000 Private-Sector Jobs Added in October
ADP reported 86,000 private-sector jobs added in October, with services accounting for most gains and job-changers’ base pay rising 4.8%.
Key takeaways
- Private-sector employment rose by 86,000 in October, matching September’s revised increase.
- Trade, transportation and utilities added 39,000 jobs, while professional and business services lost 27,000.
- Annual base-pay gains were 4.8% for job-changers and 3% for workers who stayed.
U.S. private employers added 86,000 jobs in October, ADP said Wednesday. The increase matched September’s revised gain and exceeded Dow Jones’s 75,000 estimate.
Trade, transportation and utilities led with 39,000 new jobs, while professional and business services lost 27,000, CNBC reported.
Annual base-pay gains were 4.8% for workers who changed jobs and 3% for those who stayed, ADP reported. Chief economist Nela Richardson said bonuses, overtime and longer hours also helped attract job-changers. The BLS October nonfarm payrolls report is due Friday.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
