Quarter of a Million Jobs Added in September and October

Employment in the U.S. nonfarm private business sector increased by 110,000 from September to October on a seasonally adjusted basis, according to the latest ADP National Employment Report® released today. The estimated advance in employment from August to September was revised up to 116,000 from the initially reported 91,000.

Today’s ADP National Employment Report suggests that the recent trend in private employment remains moderate, and probably is below a pace consistent with a stable unemployment rate. This rate of moderate job creation reflects the sluggish pace of GDP growth exhibited earlier this year.

Employment in the private, service-providing sector rose 114,000 in October. Although down a bit from an increase of 122,000 in September, this increase marks more than 20 consecutive months of employment gains. Employment in the private, goods-producing sector declined 4,000 in October, while manufacturing employment declined by 8,000.

Employment on small payrolls—those with up to 49 workers—rose 58,000 in October, down from the 64,000 jobs created among small businesses last month. Employment on medium payrolls—those with 50 to 499 workers—rose 53,000, and employment on large payrolls—those with 500 or more workers—declined 1,000.

Employment in the construction industry fell 1,000 in October, bringing the total decrease in construction employment since its peak in January 2007 to 2,131,000. Employment in the financial services sector rose a scant 1,000 in October. The total decrease in financial services employment for the same period remains 686,000.