October ADP Data Shows 'Tepid' Labor Market -- Market Talk

Dow Jones
Nov 05

0916 ET - The monthly ADP figures show payroll growth of 42,000 in October, above consensus estimates. The figures take on greater weight given that the government shutdown has forestalled the release of official economic statistics. Analyst Omair Sharif of Inflation Insights says that despite the net job growth, "the gains were tepid and painted a picture of a lackluster labor market." He points to declining jobs in the manufacturing, information, and professional and business services fields in ADP's numbers. Gains, he notes, were heavily concentrated in the trade, transportation and utilities sectors, which added a combined 47,000 jobs last month. (matt.grossman@wsj.com; @mattgrossman)

(END) Dow Jones Newswires

November 05, 2025 09:16 ET (14:16 GMT)

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