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Market
Small Businesses to Experience Net Job Gains in October 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
ADP National Employment Report for October 2024
Story
U.S. Private Sector Adds 143,000 Jobs in September, Strongest in 3 Months
Oct 3, 2024, 08:00 PM
U.S. private sector hiring picked up in September, with employers adding 143,000 jobs, surpassing the forecast of 128,000. This marks the strongest job growth in three months, following an upward revision of 103,000 jobs in August. The ADP report highlighted that while medium and large businesses saw job gains, small businesses (1-19 employees) experienced net losses of 13,000 jobs. The services sector led the growth with 101,000 jobs, particularly in leisure and hospitality, followed by the goods-producing sector, which added 42,000 jobs. The tech sector was the only one to lose jobs. Despite the increase in hiring, the labor market showed signs of tightening, with workers finding it harder to switch jobs for higher pay.
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