Private sector employment increased by 42,000 jobs in October, with year-over-year pay rising by 4.5%, according to the ADP National Employment Report produced by ADP Research in collaboration with the Stanford Digital Economy Lab. This report furnishes an independent measure of the labor market using anonymized payroll data from over 26 million private-sector employees in the U.S.
“Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year,” said Dr. Nela Richardson, chief economist at ADP. “Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced.”
The Mountain West region experienced a minimal increase of 2,000 jobs, contrasting with other regions that displayed more significant fluctuations. Nationally, the uptick followed two months of weak hiring but was not widespread. The education and health care sectors, along with trade, transportation, and utilities, were the primary contributors to job growth. Conversely, professional business services, information, and leisure and hospitality continued to see job losses for the third consecutive month.
In terms of regional job changes: the Northeast lost 12,000 jobs, while the Midwest added 9,000 jobs. The South gained 6,000 jobs, and the West saw an increase of 40,000 jobs.
Changes by establishment size revealed that small establishments lost 10,000 jobs and medium-sized establishments saw a decline of 21,000 jobs. Conversely, large establishments contributed positively with an increase of 73,000 jobs.
Source: ADP National Employment Report