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ADP Reports Jobs Gain in October

POSTED: November 03, 2011, 12:00 am

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Two days before the Bureau of Labor Statistics (BLS) is set to release it Employment Situation Summary for October, payroll giant ADP has issued its National Employment Report showing an increase of 110,000 nonfarm private sector jobs over last month.

The report indicates an increase of 114,000 jobs in the service sector in October but a decline of 4,000 jobs in the goods-producing sector last month. There has been 20 consecutive months of employment gains in the service sector. Small firms, those with 49 or fewer workers, added 58,000 workers to their payrolls in October. That figure is down from 64,000 in September. Medium-sized firms with 50 to 499 workers increased their payrolls by 53,000 workers last month but large companies with 500 or more workers saw a decline of 1,000 workers.

The construction sector continued to deteriorate, losing 1,000 jobs in October according to the ADP report. Since peaking in January 2007, employment in the construction sector has fallen by 2,131,000 jobs. The report also indicates a very modest increase in employment in the financial services sector of 1,000 jobs last month.

The ADP National Employment Report is issued monthly just before the U.S. Department of Labor issues its monthly report of employment activity. The BLS report will be issued Friday morning at 8:30 am and will be closely reviewed by both political parties as the economy has become the central issue of the 2012 presidential election campaign. The government’s numbers will also be issued against the backdrop of President Obama’s stalled jobs package on Capitol Hill and efforts by Senate Majority Leader Harry Reid to advance a smaller bill focused on infrastructure improvements.

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