ROSELAND, N.J., Oct. 30, 2013 /PRNewswire/ -- Private sector employment increased by 130,000 jobs from September to October, according to the October ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, in collaboration with Moody's Analytics. The report, which is derived from ADP's actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. September's job gain was revised down from 166,000 to 145,000.
* Sum of components may not equal total, due to rounding.
Goods-producing employment rose by 24,000 jobs in October, up from 16,000 in September. Construction payrolls added 14,000 jobs, while manufacturing payrolls increased by 5,000.
Service-providing industries added 107,000 jobs in October, down from 130,000 in September. Among the service industries reported by the ADP National Employment Report, trade/transportation/utilities added the most jobs with 40,000 over the month. Professional/business services employment rose by 20,000, while financial activities shed 5,000 jobs.
"According to ADP National Employment Report findings, the U.S. private sector added a total of 130,000 jobs during the month of October, well below the average of the last twelve months," said Carlos Rodriguez, president and chief executive officer of ADP."Small business growth was down from the previous month, while payrolls among large enterprises showed an increase."
Mark Zandi, chief economist of Moody's Analytics, said, "The government shutdown and debt limit brinksmanship hurt the already softening job market in October. Average monthly growth has fallen below 150,000. Any further weakening would signal rising unemployment. The weaker job growth is evident across most industries and company sizes."
Businesses with 49 or fewer employees added 37,000 jobs in October, while employment levels among medium-sized companies with 50-499 employees rose by 13,000 and employment at large companies – those with 500 or more employees – increased by 81,000.
The matched sample used to develop the ADP National Employment Report was derived from ADP payroll data, which represents 411,000 U.S. clients employing nearly 24 million workers in the U.S.
ADP Small Business Report®: Due to the important contribution that small businesses make to economic growth, employment data that are specific to businesses with 49 or fewer employees is reported each month in the ADP Small Business Report®, a subset of the ADP National Employment Report.
October 2013 Small Business Report Highlights*
Total Small Business Employment: 37,000
By size:
1-19 employees35,000
20-49 employees2,000
By sector for 1-49 employees:
Goods producing 10,000
Service providing26,000
By sector for 1-19 employees:
Goods producing6,000
Service providing29,000
By sector for 20-49 employees:
Goods producing4,000
Service providing-3,000
* Sum of components may not equal total, due to rounding.
Additional information about small business employment, including charts on monthly job growth and employment levels along with historical data, is available at www.adpemploymentreport.com.
To obtain additional information about the ADP National Employment Report, including additional charts, supporting data and the schedule of future release dates, or to subscribe to the monthly email alerts and RSS feeds, please visit www.adpemploymentreport.com.
The November 2013ADP National Employment Report will be released at 8:15 a.m. ET on December 4, 2013.
About the ADP National Employment Report® The ADP National Employment Report® is a monthly measure of the change in total U.S. nonfarm private employment derived from actual, anonymous payroll data of client companies served by ADP®, a leading provider of human capital management solutions.The report, which measures nearly 24 million U.S. workers, is produced by the ADP Research Institute®, a specialized group within the company that provides insights around employment trends and workforce strategy, in collaboration with Moody's Analytics, Inc.
Each month, ADP issues the ADP National Employment Report as part of the company's commitment to adding deeper insights into the U.S. labor market and providing businesses, governments and others with a source of credible and valuable information.The ADP National Employment Report is broadly distributed to the public each month, free of charge.
The ADP Small Business Report is a monthly estimate of private nonfarm employment among companies in the U.S. with 1-49 employees and is a subset of the ADP National Employment Report.The data for both reports is collected for pay periods that can be interpolated to include the week of the 12th of each month, and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics to compute employment from its monthly survey of establishments.Due to this processing, this subset is modified to make it indicative of national employment levels; therefore, the resulting employment changes computed for the ADP National Employment Report are not representative of changes in ADP's total base of U.S. business clients.
About Moody's Analytics Moody's Analytics helps capital markets and risk management professionals worldwide respond to an evolving marketplace with confidence. The company offers unique tools and best practices for measuring and managing risk through expertise and experience in credit analysis, economic research and financial risk management. By providing leading-edge software, advisory services and research, including proprietary analyses from Moody's Investors Service, Moody's Analytics integrates and customizes its offerings to address specific business challenges. Moody's Analytics is a subsidiary of Moody's Corporation (NYSE: MCO), which reported revenue of $2.7 billion in 2012, employs approximately 6,800 people worldwide and has a presence in 28 countries. Further information is available at www.moodysanalytics.com.
About ADP With more than $11 billion in revenues and more than 60 years of experience, ADP® (NASDAQ: ADP) serves approximately 620,000 clients in more than 125 countries. As one of the world's largest providers of business outsourcing and human capital management solutions, ADP offers a wide range of human resource, payroll, talent management, tax andbenefits administration solutions from a single source, and helps clients comply with regulatory and legislative changes, such as the Affordable Care Act (ACA). ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.adp.com.
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