233,000 Jobs in October; Annual Pay was Up 4.6%
– Private sector employment increased by 233,000 jobs in
October and annual pay was up 4.6 percent year-over-year, according to the October ADP® National Employment ReportTM produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”). …“Even amid hurricane recovery, job growth was strong in October,” said Nela Richardson, chief
economist, ADP. “As we round out the year, hiring in the U.S. is proving to be robust and broadly
resilient.”
emphasis added
This was well above the consensus forecast of 110,000. The BLS report will be released Friday, and the consensus is for 140,000 non-farm payroll jobs added in October. Note: ADP doesn’t include the Boeing strike, and probably was impacted less by the hurricanes than the BLS report.