Daily News

View All News

US adds 182,000 jobs in October, ADP reports

November 04, 2015

US private sector employment rose by 182,000 jobs in October from September, according to the ADP national employment report produced by Automatic Data Processing Inc. (NASD: ADP) in collaboration with Moody’s Analytics. October’s jobs gain is a decrease from September’s 190,000 additions — a slight downward revision from a previously reported increase of 200,000 jobs.

Small businesses rebounded in October to account for almost half the jobs added.

“Job growth as measured by the ADP Research Institute is not slowing meaningfully in contrast with the recent slowdown in the government’s data,” said Mark Zandi, chief economist of Moody’s Analytics. “The economy is creating close to 200,000 jobs per month. Job gains are broad based with energy and manufacturing alone subtracting from the top line. Small businesses, in particular, are contributing to the labor market’s solid performance.”

The jobs gain slightly exceeded the median forecast of economists surveyed by Bloomberg, which called for a gain of 180,000 jobs.

“American companies are continuing to hire at a pretty healthy rate,” Sal Guatieri, a senior economist in Toronto at BMO Capital Markets, who projected an 180,000 gain, told Bloomberg. “It’s reflecting strong growth in the US economy. Strong job growth will reinforce a healthy trend in consumer spending.”

Large businesses with more than 1,000 employees added 22,000 jobs, while businesses with 500 to 999 employees added 7,000 jobs.

Small businesses added 90,000 jobs in October, and midsize businesses added 63,000 jobs, according to the report.

By sector, the service-providing sector added 158,000 jobs, down from a downwardly revised 182,000 in September. Professional/business services contributed 13,000 jobs in October, less than half the September number. Trade/transportation/utilities grew by 35,000, off slightly from the previous month. The 9,000 new jobs added in financial activities were the fewest in this industry in the last six months.

The goods-producing sector gained 24,000 jobs in October, representing the best month in this sector since January of this year.