Private sector employment increased in October and annual pay was up again year-over-year, according to the ADP National Employment Report released Wednesday. Job creation hit its highest level since July 2023 as the economy worked through hurricane recovery.
“Even amid hurricane recovery, job growth was strong in October,” Nela Richardson, chief economist, ADP, said “As we round out the year, hiring in the U.S. is proving to be robust and broadly resilient.”
Employment rose by 233,000 jobs in October and annual pay was up 4.6 percent year-over-year. Jobs surfaced in all sectors, except Manufacturing (-19,000) which was the only sector to shed jobs.
When looking at where the jobs surfaced, the service-providing sector saw the biggest increases: Trade/transportation/utilities added 51,000 spots; Financial activities increased by 11,000 jobs; Professional/business services added 31,000 positions; Education/health services went up 53,000 places; Leisure/hospitality saw 37,000 more positions and Other services added 21,000 employees.
Large sized establishments, those with 500+ employees, experienced the largest bump in additions, with 140,000 jobs added.
