US Private Sector Job Growth Outperforms Expectations- ADP

Private enterprises in the United States hired 571 thousand employees in October 2021, up from a downwardly revised 523 thousand in September and comfortably exceeding market estimates of a 400 thousand gain.

It was the fastest employment growth rate since June, as labor demand continued to recover and the summer surge of COVID-19 infections abated.

Employers, though, continued to be concerned about continuing workforce shortages.

The service industry added 458 thousand jobs, headed by leisure and hospitality (185 thousand jobs), professional and business services (88 thousand jobs), commerce, transportation, and utilities (78 thousand jobs), and education and health care (78 thousand jobs) (56 thousand).

The manufacturing sector added 113 thousand jobs, supported by increases in construction employment (54 thousand) and manufacturing employment (113 thousand) (53 thousand)