Private Employers Added 86,000 Jobs in October

Private-sector payrolls grew by 86,000 in October, according to ADP’s estimate released on November 4. The increase was above economists’ forecast of 69,000 jobs and matched the revised gain for the previous month.</p>

<p>Trade, transportation and utilities led the industries, with 39,000 jobs added. Education and health services gained 28,000, while leisure and hospitality added 19,000. Financial businesses added 15,000, construction added 13,000, and other services added 10,000.</p>

<p>Some industries lost jobs. Professional and business services shed 27,000 positions, mining and natural resources lost 8,000, information declined by 2,000, and manufacturing payrolls fell by 1,000.</p>

<p>Employment increased among businesses of every size: companies with fewer than 50 workers added 28,000 jobs, those with 50 to 499 workers added 33,000, and larger firms added 24,000. ADP chief economist Nela Richardson said workers changing jobs were attracted by bonuses, overtime and longer hours alongside higher base pay. She said earnings growth for those workers reached its fastest rate since March 2024.</p>