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US private-sector job growth bounces back in October, adds 227,000 positions: ADP

October 31 2018

The US private sector added 227,000 jobs in October, according to the ADP National Employment Report. That’s up from 218,000 in September and 162,000 in August.

“The job market bounced back strongly last month despite being hit by back-to-back hurricanes,” Mark Zandi, chief economist of Moody’s Analytics, said. “Testimonial to the robust employment picture is the broad-based gains in jobs across industries. The only blemish is the struggles small businesses are having filling open job positions.”

Large businesses added 102,000 jobs, while midsize firms added 96,000 and small companies increased employment by 29,000.

Service-providing jobs rose by 189,000, which included growth of 61,000 jobs in “trade/transportation/utilities” and 40,000 jobs in “leisure/hospitality.”

The good-producing sector added 38,000 jobs.

“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.”

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