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ADP National Employment Report increased by 130,000
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Private sector employment increased by 130,000 jobs from September to October, according to the October ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, 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. September’s job gain was revised down from 166,000 to 145,000.
Goods-producing employment rose by 24,000 jobs in October, up from 16,000 in September. Construction payrolls added 14,000 jobs, while manufacturing payrolls increased by 5,000. Service-providing industries added 107,000 jobs in October, down from 130,000 in September.
Among the service industries reported by the ADP National Employment Report, trade /transportation /utilities added the most jobs with 40,000 over the month. Professional /business services employment rose by 20,000, while financial activities shed 5,000 jobs.
According to ADP National Employment Report findings, the U.S. private sector added a total of 130,000 jobs during the month of October, well below the average of the last twelve months. Small business growth was down from the previous month, while payrolls among large enterprises showed an increase.
Mark Zandi, chief economist of Moody’s Analytics, said, "The government shutdown and debt limit brinksmanship hurt the already softening job market in October. Average monthly growth has fallen below 150,000. Any further weakening would signal rising unemployment. The weaker job growth is evident across most industries and company sizes.”
Businesses with 49 or fewer employees added 37,000 jobs in October, while employment levels among medium-sized companies with 50-499 employees rose by 13,000 and employment at large companies – those with 500 or more employees – increased by 81,000.
Posted: October 30, 2013 Wednesday 08:15 AM