Job Growth Slows in October While Wage Growth Moderates, According to ADP Report

Private sector employment increased by 113,000 jobs in October and annual pay was up 5.7 percent year-over-year, according to the ADP National Employment Report.

Leisure and hospitality led the post-pandemic job recovery, but education and health care were the top job creators last month.

Pay growth slowed to a two-year low in October with job-stayers seeing a 5.7 percent increase and job-changers seeing an 8.4 percent increase.

No single industry dominated hiring in October and big post-pandemic pay increases seem to be behind us.

The ADP National Employment Report uses ADP's anonymized and aggregated payroll data to provide a high-frequency, near real-time measure of U.S. private sector employment.