U.S. Private Sector Added 125,000 Jobs in October
October 30 2019 - 9:00AM
Dow Jones News
By Patrick Thomas
The nonfarm private sector in the U.S. added 125,000 jobs in
October, according to the ADP National Employment Report.
Economists polled by The Wall Street Journal were expecting
100,000 new jobs.
The service-producing sector drove the increase, accounting for
138,000 new jobs, while the good-producing sector lost 13,000
jobs.
"While job growth continues to soften, there are certain
segments of the labor market that remain strong," Ahu Yildirmaz,
co-head of the ADP Research Institute, said in prepared remarks.
"The goods producing sector showed weakness; however, the
healthcare industry and midsized companies had solid gains."
Large businesses, or those that have at least 500 employees,
added 44,000 jobs. Midsize businesses added 64,000 jobs and small
businesses, or those with 49 employees or fewer, added 17,000
jobs.
Of the 138,000 jobs the service-producing sector added, the
growth was across all industries. The trade, transportation and
utilities and education and health sectors both brought in the most
new jobs, and added 32,000 and 41,000, respectively.
Within the goods-producing sector, the construction industry
lost 4,000 jobs and the natural resources and mining jobs also fell
by 4,000. Manufacturing lost 4,000 additional jobs.
The ADP Research Institute puts out the monthly report with
Moody's Analytics.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
October 30, 2019 08:45 ET (12:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Automatic Data Processing (NASDAQ:ADP)
Historical Stock Chart
From Apr 2024 to May 2024
Automatic Data Processing (NASDAQ:ADP)
Historical Stock Chart
From May 2023 to May 2024