Private sector added 86,000 jobs in October, exceeded expectations: ADP

US private employers added 86,000 jobs in October, according to ADP, beating economists’ forecast of 69,000. The stronger-than-expected hiring suggests continued job growth, while earnings for workers changing jobs rose at their fastest pace since March 2024.

Trade, transportation and utilities led with 39,000 new positions, followed by education and health services with 28,000 and leisure and hospitality with 19,000. Large firms added 24,000 jobs, medium-sized firms 33,000 and small firms 28,000; professional and business services shed 27,000. ADP’s figures can differ from the Labor Department’s separate payroll report, which was expected to show 65,000 jobs added and unemployment holding at 4.2%.