Business · Economy · 2 hrs ago

US private-sector employment rose by 86,000 in October, ADP says

US private-sector employment rose by 86,000 in October, ADP says

ADP said US private employers added jobs in October, in figures prepared with Stanford’s Digital Economy Lab.

The increase was 86,000 jobs, above the 67,000 expected by markets.

Services accounted for 82,000 of the new jobs, while production added 4,000.

ADP’s estimate uses payroll data from more than 26 million private-sector workers.

Annual base pay rose 3% for workers who stayed in the same job and 4.8% for those who changed jobs.

ADP chief economist Nela Richardson said job changers’ total earnings growth, including bonuses and overtime, reached its fastest pace since March 2024.

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