ADP job growth of 227,000 highest in eight months
Hiring remains strong across the U.S. with private sector employment increasing by 227,000 jobs in October, according to the ADP National Employment Report®. Analysts were expecting 189,000 jobs would be added during the month.
The most jobs were trade/transportation/utilities where 61,000 positions were added. Forty-thousand jobs were created in the leisure/hospitality category and 36,000 jobs were added in professional/business services.
The U.S. October payroll increase was the highest since February 2018. ADP revised the September payroll additions to 218,000 from 230,000.
Despite a significant shortage in skilled talent, the labor market continues to grow," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "We saw significant gains across all industries with trade and leisure and hospitality leading the way. We continue to see larger employers benefit in this environment as they are more apt to provide the competitive wages and strong benefits employees desire."
On Friday, the government will release its October payrolls report, which will offer an in-depth look at the labor market, including job additions, the unemployment rate, the labor participation rate and wage growth.