Private sector adds 42,000 jobs in October: ADP | Fox Business

'Kudlow' panelists Jim McLaughlin and Mark Penn discuss the November 2025 election and the state of the economy. Companies in the private sectoradded 42,000 jobsin October, payroll processing firm ADP said Wednesday. The figure is above economists’ estimates of a gain of 28,000 jobs. The prior month's payrolls number was revised to a loss of 29,000 from an initially reported loss of 32,000. "Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year," said Nela Richardson, ADP's chief economist. "Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced." Trade, transportation and utilities added 47,000 positions, leading job creation in October.Education and health servicesadded 25,000 jobs, financial activities added 11,000, natural resources and mining contributed 7,000, and construction added 5,000. A professor talks to a group of students in a lecture hall.(iStock) On the negative side, information lost 17,000 positions in the month, professional and business services lost 15,000 jobs, and other services lost 14,000. FED PRESIDENT EXPLAINS VOTE AGAINST INTEREST RATE CUT Leisure and hospitality lost 5,000 jobs and manufacturing lost 3,000. Leisure and hospitality lost 19,000 positions in September.(iStock) Large businesses – those with 500 or more employees – added 74,000 jobs in the month. Businesses with 50 to 499 employees lost 22,000 workers. Establishments with fewer than 50 employees lost 10,000 jobs. FED CUTS INTEREST RATES FOR SECOND TIME THIS YEAR AMID LABOR MARKET WEAKNESS Large businesses – those with 500 or more employees – added 74,000 jobs in the month.(Yuki Iwamura/Bloomberg via Getty Images) Wage growth in September was little changed from last month. People staying in their roles saw their pay climb 4.5% from the prior year, while pay gains for those staying in their jobs grew slightly to 6.7% from 6.6% in September. GET FOX BUSINESS ON THE GO BY CLICKING HERE The ADP data is typically released before theLabor Department'snonfarm payrolls report and can differ notably. However, due to the federal government shutdown, the Labor Department said it would halt alleconomic data releases. This includes initial jobless claims and the October nonfarm payrolls data.