ADP Employment Report Signals Strong Labor Market Across The Board, Wage Growth Accelerates ADP's Employment Report showed a better than expected rise in jobs in October , up 86k (vs +67k exp) - the 16th monthly rise in employment in a row... "Employers of all sizes were hiring last month," said Dr.
Nela Richardson Chief Economist, ADP. The Services Industry saw job gains accelerate while Manufacturing slowed with the advance reflecting gains in trade, transportation and utilities, education and health services, leisure and hospitality, financial activities and construction.
Richardson also noted that ADP data suggests that "job-changers were lured by a combination of bonuses, overtime, and more hours in addition to higher base pay." Taken together, earnings growth for these workers hit its fastest pace since March 2024 .