“Private sector employment increased by 227,000 jobs from September to October,” the ADP stated in its latest report. This reading surpassed the market expectation of 189K and fell short of the previous reading of 230K. Below are some key quotes from the official press release.
- Despite a significant shortage in skilled talent, the labor market continues to grow.
- We saw significant gains across all industries with trade and leisure and hospitality leading the way.
- 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 only blemish is the struggles small businesses are having filling open job positions.
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