MJP –
Private sector employment surged in October with 233,000 jobs created, according to the latest ADP National Employment Report.
Despite hurricane recovery challenges, job growth hit its highest level since July 2023. “Hiring in the U.S. is proving to be robust and broadly resilient,” said Nela Richardson, ADP’s chief economist.
Service-providing industries dominated job creation, adding 211,000 positions.
Education and health services led with 53,000 new roles, while trade, transportation, and utilities followed with 51,000. The only sector shedding jobs was manufacturing, down 19,000.
Regionally, the South added 77,000 jobs, with the South Atlantic contributing 60,000. The Midwest also saw strong gains of 63,000.
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By establishment size, large businesses (500+ employees) accounted for 140,000 of the new jobs.
Meanwhile, pay growth for job-stayers slowed to 4.6 percent year-over-year, marking a continued decline over two years. Job changers experienced a 6.2 percent increase in annual pay, down from previous highs.
