Private-sector employment increased by 182,000 jobs from September to October on a seasonally-adjusted basis, according to an employment report released today by payroll-processing company ADP and its partner Moody's Analytics. The figure is down slightly from September's downward-revised gain of 190,000 jobs.
"The economy is creating close to 200,000 jobs per month," Moody’s Analytics chief economist Mark Zandi said in a press release. "Job gains are broad based with energy and manufacturing alone subtracting from the top line. Small businesses, in particular, are contributing to the labor market’s solid performance."
The construction industry added 35,000 jobs to the economy in October, slightly surpassing the sector's increase of 34,000 in September. Meanwhile, the manufacturing sector remained in negative territory, losing 2,000 jobs in October and 17,000 the previous month. Professional and business services, a category that includes architecture and engineering firms, increased by 13,000 jobs in October, less than half of the September growth of 31,000.
ADP and Moody's Analytics also release the quarterly ADP Workforce Vitality Index (WVI), which offers data on U.S. private-sector workforce dynamics and trends and measures industries by key labor-market indicators, such as employment growth, job turnover, wage gains, and hours worked. The latest WVI, released on Oct. 21, indicates that the business climate in the manufacturing industry and the professional and business services sector generally improved from the first quarter of 2015. The construction sector posted even stronger gains, and has been on the rise for two consecutive quarters.
The U.S. Bureau of Labor Statistics is scheduled to release its October jobs report on Friday, which will provide more details about job growth in the architecture, engineering, and construction market.