U.S. private payrolls rise by 86,000 in October, ADP says

Private employers in the U.S. added more jobs than anticipated in October, signaling ongoing strength in the American labor market ahead of a key Federal Reserve interest rate decision next month.

Figures from data processor ADP on Wednesday showed that private payrolls rose by 86,000 last month, matching a downwardly revised total from September. Economists had anticipated an increase of 67,000.

“Employers of all sizes were hiring last month, and our data suggests that job-changers were lured by a combination of bonuses, overtime, and more hours in addition to higher base pay. Taken together, earnings growth for these workers hit its fastest pace since March 2024,” said Nela Richardson, Chief Economist at ADP, in a statement.

The ADP report, which is jointly developed in coordination with the Stanford Digital Economy Lab, comes before the release of more comprehensive government job numbers later on Friday. In previous months, ADP has not been a reliable indicator of the separate report from the Bureau of Labor Statistics.

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