Private Companies Added 86,000 Jobs in October, ADP Says

U.S. private companies added 86,000 jobs in October, matching September's revised total and slightly exceeding economists' expectations, according to ADP data released Wednesday, November 4.

The gain was above the Dow Jones estimate of 75,000 jobs. ADP described hiring as showing solid growth for a second month, although the report also showed weakness in some industries.

Trade, transportation and utilities led the gains with 39,000 jobs. Education and health services added 28,000, leisure and hospitality added 19,000, financial activities gained 15,000, construction added 13,000 and other services gained 10,000.

Those gains were partly offset by losses elsewhere. Professional and business services shed 27,000 jobs, natural resources and mining lost 8,000, information lost 2,000 and manufacturing lost 1,000. Professional and business services declined for a third consecutive month.

ADP said employers of different sizes were hiring. Chief Economist Nela Richardson said job changers benefited from bonuses, overtime and additional hours as well as higher base pay, helping lift their earnings growth.

The report measures private-sector employment using aggregated and anonymized payroll data. It is separate from the federal government's monthly jobs report and does not include government hiring, so its totals should not be treated as the national payroll count.