Private Sector Added 42,000 Jobs in October, Reversing September's Losses

Core Insights - The private sector added 42,000 jobs in October, marking a recovery from a loss of 32,000 jobs in September, with the trade, transportation, and utilities industry leading the growth [1][2] - Job growth was modest compared to earlier in the year, with ADP Chief Economist noting that this was the first job addition since July [2] - Year-over-year pay growth remained flat, with job-stayers seeing a 4.5% increase and job-changers at 6.7%, indicating a balance in supply and demand [3] Industry Performance - Five industries added jobs in October: - Trade, transportation, and utilities: +47,000 jobs - Education and health services: +26,000 jobs - Financial activities: +11,000 jobs - Natural resources and mining: +7,000 jobs - Construction: +5,000 jobs [6] - Five industries experienced job losses: - Information: -17,000 jobs - Professional and business services: -15,000 jobs - Other services: -13,000 jobs - Leisure and hospitality: -6,000 jobs - Manufacturing: -3,000 jobs [6] Establishment Size Impact - Only large establishments (500 or more employees) added jobs, contributing 73,000 jobs - Small businesses (1-49 employees) cut 10,000 jobs, while medium establishments (50-499 employees) reduced their workforce by 21,000 [7]