Private payrolls rose 42,000 in October, more than expected and countering labor market fears, ADP says
The post Private payrolls rose 42, 000 in October, more than expected and countering labor market fears, ADP says appeared com. A jobseeker speaks with a recruiter during a NYS Department Of Labor job fair at the Downtown Central Library in Buffalo, New York, US, on Wednesday, Aug. 27, 2025. Lauren Petracca | Bloomberg | Getty Images Payroll growth at private companies turned slightly stronger than expected in October, providing some hope that the labor market isn’t in danger of sinking, ADP reported Wednesday. Companies added 42, 000 jobs for the month, following a decline of 29, 000 in September and topping the Dow Jones consensus estimate for a gain of 22, 000. A revision for September showed 3, 000 fewer jobs lost, the payrolls processing firm said. A gain of 47, 000 in the trade, transportation and utilities grouping helped offset losses in multiple other categories. Education and health services also showed growth of 26, 000 while financial activities added 11, 000. Despite the artificial intelligence-fueled tech boom, information services saw a decline of 17, 000 positions. Other sectors posting losses included professional and business services (-15, 000), other services (-13, 000) and manufacturing (-3, 000), a sector that continues to struggle despite President Donald Trump’s tariffs aimed at bringing factory jobs back to the U. S. All of the job creation came from companies employing at least 250 workers. That category added 76, 000 jobs, while smaller businesses lost 34, 000. Despite the meager job growth, salaries continued to rise. Year-over-year pay for those staying in their jobs rose 4. 5%, the same as in September, while job switchers saw a 6. 7% increase, up slightly from a month ago. “Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year,” said ADP chief economist Nela Richardson. “Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced.” By ADP’s count, job.