U.S. private sector employment rose by 233,000 jobs in October, while the annual wage of the unemployed grew 4.6% year over year, according to ADP’s latest national employment report. The report, prepared by ADP Research in collaboration with the Digital Economy Lab at Stanford University, provides an independent, highly replicable view of the private sector labor market based on payroll data for more than 25 million U.S. employees.
“Even with the hurricane recovery, job growth was strong in October,” said Nella Richardson, chief economist at ADP. “As we approach the end of the year, US employment has proven to be broadly strong and resilient.”
ADP October 2024 Jobs Report Highlights
Job growth by sector
The private sector saw its strongest job creation rate since July 2023, driven by strong growth in most industries. Manufacturing was the only sector to see a decline in employment.
- Commodity producing sectors: 22,000 jobs added
- Natural Resources/Mining: +4,000
- Construction: +37,000
- Manufacturing: -19,000
- Service provision sectors: 211,000 jobs added
- Trade/Transport/Utilities: +51,000
- Information: +7,000
- Financial activities: +11,000
- Professional/Business Services: +31,000
- Education/health services: +53,000
- Entertainment/Hospitality: +37,000
- Other services: +21,000
Regional employment changes
Employment gains varied across regions of the United States, with the South seeing the highest increase.
- Northeast of the country: +48,000
- New England: -6000
- Mid-Atlantic: +54,000
- Midwest: +63,000
- East North Central: +51,000
- West North Central: +12000
- south: +77,000
- South Atlantic: +60,000
- East and South Central: -13,000
- West-South Central: +30,000
- West: +44,000
- Mountain: +26,000
- Pacific: +18,000
Recruitment by facility size
Large institutions led job growth, adding 140,000 jobs, while smaller institutions saw small gains.
- Small enterprises: +4,000
- 1-19 employees: +10,000
- 20-49 employees: -6,000
- Medium establishments: +86,000
- 50-249 employees: +58,000
- 250-499 employees: +28,000
- Large establishments: +140,000
Pay insights
In October, wage growth slowed for both job stayers and job changers. Those staying in their jobs saw a year-over-year wage increase of 4.6%, while those changing jobs saw a 6.2% increase.
Average annual wage change by industry for employed residents
- Commodity producing sectors:
- Natural Resources/Mining: +3.4%
- Construction: +4.9%
- Manufacturing: +4.5%
- Service provision sectors:
- Trade/Transport/Utilities: +4.4%
- Information: +4.3%
- Financial activities: +4.9%
- Professional/business services: +4.5%
- Education/health services: +5.1%
- Leisure/Hospitality: +4.6%
- Other services: +4.8%
Average annual change in pay by firm size for stay-at-home workers
- Small businesses:
- 1-19 employees: +3.9%
- 20-49 employees: +4.6%
- Medium companies:
- 50-249 employees: +4.9%
- 250-499 employees: +4.8%
- Large companies: