ADP has released a reports that points to continued job growth in the United States. This, in spite of concerns about stock market volatility and the problem of protectionist trade policies.
Private sector employment increased by 227,000 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 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.
October 2018 Report Highlights*
View the ADP National Employment Report Infographic at www.adpemploymentreport.com.
Total U.S. Nonfarm Private Employment: 227,000
By Company Size
– Small businesses: 29,000
- 1-19 employees 7,000
- 20-49 employees 22,000
– Medium businesses: 96,000
- 50-499 employees 96,000
– Large businesses: 102,000
- 500-999 employees 30,000
- 1,000+ employees 73,000
By Sector
– Goods-producing: 38,000
- Natural resources/mining 4,000
- Construction 17,000
- Manufacturing 17,000
– Service-providing: 189,000
- Trade/transportation/utilities 61,000
- Information 4,000
- Financial activities 4,000
- Professional/business services 36,000 – Professional/technical services 17,000 – Management of companies/enterprises 4,000 – Administrative/support services 15,000
- Education/health services 31,000 – Health care/social assistance 31,000 – Education 0
- Leisure/hospitality 40,000
- Other services 13,000
* Sum of components may not equal total, due to rounding.
– Franchise Employment**
- Franchise jobs 13,200
**Complete details on franchise employment can be found here.
“Despite a significant shortage in skilled talent, the labor market continues to grow,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.”We saw significant gains across all industries with trade and leisure and hospitality leading the way. We continue to see larger employers benefit in this environment as they are more apt to provide the competitive wages and strong benefits employees desire.”
Mark Zandi, chief economist of Moody’s Analytics, said, “The job market bounced back strongly last month despite being hit by back-to-back hurricanes. Testimonial to the robust employment picture is the broad-based gains in jobs across industries. The only blemish is the struggles small businesses are having filling open job positions.”
The matched sample used to develop the ADP National Employment Report was derived from ADP payroll data, which represents 411,000 U.S. clients employing nearly 24 million workers in the U.S. The September total of jobs added was revised down from 230,000 to 218,000.