Employment in the US private sector rose by 113,000 jobs in October, according to the ADP National Employment Report released today. That’s up from 89,000 added in September; however, CNBC reported October’s numbers are below Dow Jones’ consensus estimate of 130,000.

Pay growth is also slowing, according to the report. It found pay for workers staying in their jobs rose 5.7% year over year in October, the slowest increase since 2021. ADP’s report also noted that those changing jobs saw a pay increase of 8.4% in October — the smallest increase since July 2021.

“No single industry dominated hiring this month, and big post-pandemic pay increases seem to be behind us,” Nela Richardson, chief economist at ADP said in a press release. “In all, October’s numbers paint a well-rounded jobs picture. And while the labor market has slowed, it’s still enough to support strong consumer spending.”

Here are ADP’s estimates of employment growth by industry:

• Goods-producing, up 6,000
  • Natural resources/mining, down 1,000
  • Construction, up 4,000
  • Manufacturing, down 3,000
• Service-providing, up 107,000
  • Trade/transportation/utilities, up 35,000
  • Information, flat
  • Financial activities, up 21,000
  • Professional/business services, down 10,000
  • Education/health services, up 45,000
  • Leisure/hospitality, up 17,000
  • Other services, down 1,000

The ADP National Employment Report, produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab, uses ADP’s anonymized and aggregated payroll data of more than 25 million US employees to provide a representative picture of the labor market. The report details the current month’s total private employment change and weekly job data from the previous month.