US ADP private employment grew only 365k in September, well below expectation of 690K. By company size, small businesses added 114k jobs, medium businesses added 135k, large businesses added 116k. By sector, goods-producing industries added 17k, service-providing industries added 348k.
“The labor market continues to add jobs, yet at a slower pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Although the pace is slower, we’ve seen employment gains across all industries and sizes.”
