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2026-11-04 21:18:25
[US Private Sector Jobs Increase by 86,000 in October, Wage Growth Remains Stable] ⑴ A national employment report released Wednesday by ADP showed that private sector employment increased by 86,000 jobs in October, marking the second consecutive month of steady growth in hiring, while wage growth remained stable. ⑵ By industry, the goods-producing sector added 4,000 jobs, with construction adding 13,000, natural resources and mining losing 8,000, and manufacturing losing 1,000. ⑶ The service-providing sector added 82,000 jobs, with trade, transportation, and utilities adding 39,000, financial activities adding 15,000, education and health services adding 28,000, leisure and hospitality adding 19,000, while professional and business services declined for the third consecutive month, falling by 27,000. ⑷ By region, the South added 47,000 jobs, the West added 28,000, the Midwest added 9,000, and the Northeast added 3,000. (5) By organization size, small businesses added 28,000, medium-sized businesses added 33,000, and large businesses added 24,000. (6) In terms of salary, base salaries for private sector employees increased by 3.2% year-on-year, and total salaries increased by 4.7%. (7) Base salaries for those who remained with their jobs increased by 3.0%, while those who changed jobs increased by 4.8%; in terms of total salaries, those who remained with their jobs increased by 4.4%, while those who changed jobs increased by 7.6%. (8) Richardson, chief economist at Automatic Data Processing, said that employers of all sizes were hiring last month, and the data shows that job seekers were attracted not only by higher base salaries but also by bonuses, overtime, and more working hours. The combined income growth of these employees reached its fastest level since March 2024.
