Private sector added better-than-expected 42,000 jobs in October, ADP says

Group 1 - Private sector added 42,000 jobs in October, exceeding economists' estimates of 28,000 jobs [1] - Previous month's payrolls were revised from a loss of 32,000 to a loss of 29,000 [1] - Job creation in October marked the first increase since July, although hiring remains modest compared to earlier this year [2] Group 2 - Trade, transportation, and utilities led job creation with an addition of 47,000 positions [2] - Education and health services added 25,000 jobs, financial activities added 11,000, natural resources and mining contributed 7,000, and construction added 5,000 [2] Group 3 - Information sector lost 17,000 positions, professional and business services lost 15,000 jobs, and other services lost 14,000 [3] - Leisure and hospitality lost 5,000 jobs, while manufacturing lost 3,000 [3] Group 4 - Pay growth has remained largely flat for over a year, indicating a balance in supply and demand [2]