Black Workers, Economics, News

Companies added 182,000 jobs in October

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The nation’s non-farm private-business-sector added 182,000 jobs in October, the Roseland, N.J.-based ADP Employment Report announced Wednesday.

ADP reported that small businesses, those with one to 49 employees, added 90,000 jobs. Medium-size companies of 50 to 499 workers added 63,000 workers and large businesses, boasting 500 to 1,000 workers,  hired 29,000 new workers.

The goods-producing sector added 24,000 jobs, and the service-producing sector added 158,000 jobs.

Construction, trade/transportation/utilities, financial activities and professional/business services added jobs but manufacturing lost them.

Mark Zandy, chief economist at Moody’s Analytics, said, “Job growth as measured by the ADP Research is not slowing meaningfully in contrast with the recent slowdown in the government’s data.”

ADP releases its jobs data the Wednesday before the U.S. Bureau of Labor Statistics issues its closely watched employment report on the first Friday of each month.

 

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