Private sector employment increased by 113,000 jobs in October and annual pay was up 5.7 percent year-over-year, according to the October ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment Report is an independent measure and high-frequency view of the private-sector labor market based on actual, anonymized payroll data of more than 25 million U.S. employees. The jobs report and pay insights use ADP's fine-grained anonymized and aggregated payroll data to provide a representative picture of ... (full story)

Private sector payroll growth increased modestly in October but missed expectations, in a potential sign that the employment picture could be darkening, ADP reported Wednesday. The payrolls processing firm reported that companies added 113,000 workers for the month, higher than the unrevised 89,000 in September but below the Dow Jones consensus estimate of 130,000. On wages, ADP said pay was up 5.7% from a year ago, the smallest annual gain since October 2021. From a sector standpoint, education and health services led with 45,000 new jobs. Other notable gainers included trade, transportation and utilities (35,000), ... (full story)