Wednesday, October 30, 2013

ADP Employment Falls Below Expectations Again

According to ADP’s National Employment Report, the private sector added 130,000 jobs in October. The growth in October continues a 4 month declining trend, and the smallest growth since April. The government shutdown in October likely hampered private sector job growth. Gains were driven by both the goods producing and services sector.

The service sector produced 107,000 jobs in October, a big decline from the previous months. The last 6 month average is 138,000 jobs per month.

The goods producing sector improved by 24,000 jobs in October, an increase from the 16,000 jobs the month prior. Manufacturing contributed 5,000 jobs to the gain, after losing jobs in September.

Read the ADP release.

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