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ADP National Employment Report: Private Sector Employment Increased by 42,000 Jobs in October; Annual Pay was Up 4.5%

1. Private sector added 42,000 jobs in October, ending two months of decline. 2. Year-over-year pay growth remained flat at 4.5%, indicating balanced supply and demand. 3. Large establishments added 73,000 jobs, while small and medium saw losses. 4. Professional/business services sector continues to face job losses for the third month. 5. ADP's employment data captures trends affecting over 26 million private-sector employees.

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FAQ

Why Neutral?

While job growth is a positive signal, it remains modest. Historical patterns show that stable employment growth can stabilize stock prices but may not catalyze immediate increases.

How important is it?

As a provider of employment data, ADP's reports directly inform market perceptions of its performance. Given its significant role in employment analysis, this report holds foundational relevance for ADP's stock.

Why Short Term?

The employment report impacts current market sentiment, but broad economic shifts take longer to manifest. Seasonal employment trends can also produce fluctuations.

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, /PRNewswire/ -- Private sector employment increased by 42,000 jobs in October and pay was up 4.5 percent year-over-year according to the October ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab").   ADP Research (PRNewsfoto/ADP, Inc.) The ADP National Employment Report is an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States. ADP's Pay Insights captures over 15 million individual pay change observations each month. Together, the jobs report and pay insights use ADP's fine-grained data to provide a representative and high-frequency picture of the private-sector labor market. "Private employers added jobs in October for the first time since July, but hiring was modest relative to what we reported earlier this year," said Dr. Nela Richardson, chief economist, ADP. "Meanwhile, pay growth has been largely flat for more than a year, indicating that shifts in supply and demand are balanced." October 2025 Report Highlights View the ADP National Employment Report and interactive charts at www.adpemploymentreport.com. JOBS REPORT Private employers added 42,000 jobs in OctoberLast month delivered a rebound from two months of weak hiring, but the bounce wasn't broad-based. Education and health care, and trade, transportation, and utilities led the growth. For the third straight month, employers shed jobs in professional business services, information, and leisure and hospitality. Change in U.S. Private Employment :     42,000 Change by Industry - Goods-producing:     9,000 Natural resources/mining     7,000 Construction     5,000 Manufacturing     -3,000 - Service-providing:     33,000 Trade/transportation/utilities     47,000 Information     -17,000 Financial activities     11,000 Professional/business services     -15,000 Education/health services     26,000 Leisure/hospitality     -6,000 Other services     -13,000 Change by U.S. Regions - Northeast:     -12,000 New England     7,000 Mid-Atlantic     -20,000 - Midwest:     9,000 East North Central     2,000 West North Central     7,000 - South:     6,000 South Atlantic     -8,000 East South Central     11,000 West South Central     3,000 - West:     40,000 Mountain     2,000 Pacific     37,000 Change by Establishment Size - Small establishments:     -10,000 1-19 employees     -15,000 20-49 employees     6,000 - Medium establishments:     -21,000 50-249 employees     -25,000 250-499 employees     3,000 - Large establishments:     73,000 500+ employees     73,000 PAY INSIGHTS Pay growth was unchanged in OctoberYear-over-year pay growth was flat in October from the month prior, at 4.5 percent for job-stayers and 6.7 percent for job-changers. Median Change in Annual Pay - Job-stayers     4.5% - Job-changers     6.7% Median Change in Annual Pay for Job-Stayers by Industry - Goods-producing:                                                     Natural resources/mining     4.3% Construction     4.5% Manufacturing     4.8% - Service-providing:                                                Trade/transportation/utilities     4.3% Information     4.3% Financial activities     5.2% Professional/business services     4.2% Education/health services     4.4% Leisure/hospitality     4.6% Other services     4.1% Median Change in Annual Pay for Job-Stayers by Firm Size - Small firms:                                                                 1-19 employees     2.5% 20-49 employees     4.1% - Medium firms:                                                              50-249 employees     4.7% 250-499 employees     4.8% - Large firms:                                                                 500+ employees     4.9% To see Pay Insights by U.S. State, Gender, and Age for Job-Stayers, visit here: The September total number of jobs added was revised from -32,000 to -29,000.For additional information about the ADP National Employment Report, including historical files, employment and pay data, methodology, and a calendar of release dates, please visit https://adpemploymentreport.com/.    The November 2025 ADP National Employment Report will be released on December 3, 2025 at 8:15 a.m. ET. About ADP Research The mission of ADP Research is to make the future of work more productive through data-driven discovery. Companies, workers, and policy makers rely on our finely tuned data and unique perspective to make informed decisions that impact workplaces around the world.To subscribe to monthly email alerts or obtain additional information about ADP Research, including employment and pay data, methodology, and a calendar of release dates, please visit https://www.adpresearch.com.     About ADP (NASDAQ: ADP)ADP has been shaping the world of work with innovation and expertise for more than 75 years. As a global leader in HR and payroll solutions, ADP continuously works to solve business challenges for our clients and their workers, from simple, easy-to-use tools for small businesses to fully integrated platforms for global enterprises – and everything in between. Always Designing for People means we're focused on just that – people. We use our unmatched AI-driven insights and proven expertise to design innovative solutions that help people achieve greater success at work. More than 1.1 million clients across 140+ countries rely on ADP's exceptional service to support their people and drive their business forward. HR, Talent, Time Management, Benefits, Compliance, and Payroll. Learn more at ADP.com ADP, the ADP logo, and Always Designing for People, ADP National Employment Report, and ADP Research are registered trademarks of ADP, Inc. All other marks are the property of their respective owners. Copyright © 2025 ADP, Inc. All rights reserved. ADP-Media SOURCE ADP, Inc.

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