Overview
- Hiring broke a two‑month slide with the first gain since July, and ADP revised September to a 29,000 loss from 32,000.
- Job growth was concentrated in trade, transportation and utilities (+47,000) and education and health services (+26,000), while information (−17,000), professional and business services (−15,000), leisure and hospitality (−6,000) and manufacturing (−3,000) declined.
- All net job creation came from large employers, with firms of 500 or more adding 73,000 positions as small (−10,000) and midsize (−21,000) businesses cut staff.
- Year‑over‑year pay growth was unchanged at 4.5% for job‑stayers and 6.7% for job‑changers, reinforcing signs of a cooler but balanced labor market.
- With BLS releases suspended, economists and the Federal Reserve are leaning on ADP’s payroll sample while cautioning that it is an imperfect substitute for the official survey.