Total nonfarm private sector employment increased by 125,000 from September to October, according to the ADP National Employment Report. That hits the consensus forecast.
Forecasts ranged from a low of 40,000 to a high of 190,000. The consensus forecast was 125,000, exactly.
“While job growth continues to soften, there are certain segments of the labor market that remain strong,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “The goods producing sector showed weakness; however, the healthcare industry and midsized companies had solid gains.”
The goods-producing sector lost 14,000 jobs in October, including
By Company Size
– Small businesses: 17,000
- 1-19 employees -12,000
- 20-49 employees 30,000
– Medium businesses: 64,000
- 50-499 employees 64,000
– Large businesses: 44,000
- 500-999 employees 10,000
- 1,000+ employees 33,000
By Sector
– Goods-producing: -13,000
- Natural resources/mining -4,000
- Construction -4,000
- Manufacturing -4,000
– Service-providing: 138,000
- Trade/transportation/utilities 32,000
- Information 3,000
- Financial activities 17,000
- Professional/business services 18,000
– Professional/technical services 11,000
– Management of companies/enterprises 4,000
– Administrative/support services 3,000 - Education/health services 41,000
– Health care/social assistance 35,000
– Education 5,000 - Leisure/hospitality 19,000
- Other services 9,000
* Sum of components may not equal total, due to rounding.
– Franchise Employment
- Franchise jobs 30,100
