ADP: Private Sector Employment and Pay Rise in October

According to the ADP National Employment Report released on Wednesday, November 5, private sector employment increased by 42,000 jobs in October. Year-over-year, annual pay rose 4.5%.

The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data to provide a representative picture of the private-sector labor market.

Commenting on the report, ADP Chief Economist Nela Richardson said:

“Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year. Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced.”