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US private sctor employment jumps in October

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Dion Global

01 Nov 2018

Payroll processor ADP said private employment jumped by 227,000 jobs in October after surging up by a downwardly revised 218,000 jobs in September.

The stronger than expected job growth in October reflected the biggest increase in private sector employment since a jump of 241,000 jobs in February.

"Despite a significant shortage in skilled talent, the labor market continues to grow," said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. "We saw significant gains across all industries with trade and leisure and hospitality leading the way."

She added, "We continue to see larger employers benefit in this environment as they are more apt to provide the competitive wages and strong benefits employees desire."

The report said employment in the service-providing sector surged up by 189,000 jobs, while employment in the goods-producing sector climbed by 38,000 jobs.