US ADP employment grew 239k, strong but not broad-based

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US ADP employment grew 239k, strong but not broad-based

US ADP private employment grew 239k in October, above expectation of 198k. Goods-producing jobs decreased -8k but service-providing jobs increased 247k. By company size, small establishments added 25k jobs, medium added 218k, large lost -4k. “This is a really strong number given the maturity of the economic recovery but the hiring was not broad-based,” said […]

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Source: US ADP employment grew 239k, strong but not broad-based