ADP states that 125,000 private sector jobs were created in October
Figures: The nation's companies created 125,000 jobs in the private sector in October, payroll processor ADP said Thursday.
Economists polled by Econoday had predicted a gain of 125,000.
The total for September added was revised from the first 135,000 to 93,000, ADP said.
What Happened: Large companies, meaning those with around 500 employees or more, added 44,000 jobs. Mid-sized companies (50-499 employees) added 64,000 jobs, while small employers, or those with one to 49 workers, cope with 17,000 jobs.
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Product-producing sectors such as industry, construction and mining were a weak place, with 13,000 jobs lost. Services delivering sectors showed strength, with 41,000 jobs added in education and healthcare, and 32,000 jobs tackled in commerce, transportation and utilities.
What they say: Mark Zandi, chief economist at Moody's Analytics, said in a news release that job growth "has staggered far back over the past year."
"The decline in jobs is most pronounced among producers and small companies," Zandi added. "If employment declines further, unemployment will start to rise."
"While job growth continues to soften, there are certain parts of the labor market that remains strong, "said Ahu Yildirmaz, co-chair of the ADP Research Institute, in the release." Health care and medium-sized companies had solid profits. "
Big picture: The US economy has slowed, and economists have predicted that job creation will continue to lose steam due to trade wars with China that hurt the global economy and boomeranged in the United States
See: Why GDP is likely to show a more volatile US economy in the third quarter [19659002] Wednesday's ADP report comes ahead of the more closely followed federal government release of non-farm patterns on Friday.
Market Response: Futures for Dow Jones Industrial Average
YMZ19, -0.16%
was little changed on Wednesday as traders waited for a Federal Reserve decision.
