ADP private-sector employment rose by 86,000 in October, above expectations of 75,000. But white-collar employers are still cutting jobs: professional and business services shed another 27,000, marking a third straight monthly decline.
Trade and transportation added 39,000 jobs, the biggest gain in nearly two years, while services added 82,000 overall. One other detail: September’s figure was revised down from 90,000 to 86,000. October was actually flat compared with September—there was no acceleration.
Workers who changed jobs saw wages rise 4.8%, the fastest pace since March 2024. The official jobs report due Friday is expected to show just 59,000 jobs added: employers are still hiring, but white-collar workers are bracing for a rough winter.
Trade and transportation added 39,000 jobs, the biggest gain in nearly two years, while services added 82,000 overall. One other detail: September’s figure was revised down from 90,000 to 86,000. October was actually flat compared with September—there was no acceleration.
Workers who changed jobs saw wages rise 4.8%, the fastest pace since March 2024. The official jobs report due Friday is expected to show just 59,000 jobs added: employers are still hiring, but white-collar workers are bracing for a rough winter.