Payroll processing company ADP reports that American private sector companies created 233,000 jobs in Octobe; the largest monthly increase since July 2023 and above the estimates of 114,000 among economists.
From an earlier estimate, September's employment rise was revised up to 159,000.
Defined as companies with 500 or more workers, big companies helped create 140,000 positions. With 50 to 499 workers, midsize companies gained 86,000 jobs; small enterprises, with less than 50 employees, employed 4,000.
The health and education sectors led to increases, creating 53,000 new employment. Closely following with 51,000 were utilities, transportation, and trade. The leisure and hospitality sector hired 37,000 people.
By comparison, the manufacturing sector lost 19,000 positions in October.
With 77,000 jobs, the South topped regional statistics on job growth, followed by the Midwest with 63,000, the Northeast with 48,000, and the West with 44,000.
ADP also noted that pay increased 4.6% year over year.
The study comes before the nonfarm payroll statistics released by the Bureau of Labor Statistics, set for publication on Friday.
