ADP Reports Private Sector Employment Increased by 571,000 Jobs in October — Nearly 5 Million Year to Date

According to the October ADP® National Employment Report™, nonfarm private sector employment increased by 571, 000 jobs from September to October. 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.

In a statement prepared for the release of the report, Nela Richardson, ADP’s chief economist said, “The labor market showed renewed momentum last month, with a jump from the third quarter average of 385,000 monthly jobs added, marking nearly 5 million job gains this year.”

“Service sector providers led the increase, and the goods sector gains were broad based, reporting the strongest reading of the year. Large companies fueled the stronger recovery in October, marking the second straight month of impressive growth,” Richardson added.

Mark Zandi, chief economist of Moody’s Analytics, said, “The job market is revving back up as the Delta wave of the pandemic winds down. Job gains are accelerating across all industries, and especially among large companies. As long as the pandemic remains contained, more big job gains are likely in coming months.”