ADP Reports Private Sector Employment Increased by 365,000 Jobs in October

ADP has released their National Employment Report® (NER) for October 2020. According to the report private sector employment increased by 365,000 jobs from September to October. Led by large gains in the service-related businesses and hospitality. The October report is well below the Dow Jones economist survey which projected a 600,000 private sector job gains. It is also much lower than the 753,000 private sector jobs added in September and the lowest since July 2020. The NER is broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally adjusted basis.

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