Private payrolls rose 42,000 in October, more than expected and countering labor market fears, ADP says
https://www.cnbc.com/2025/11/05/private-payrolls-rose-42000-in-october-more-than-expected-and-countering-labor-market-fears-adp-says.html
Posted by Single_Scientist_419
8 Comments
1. Trade/transportation/utilities being the largest growth sector is likely AI adjacent with the data centers.
2. Only employment growth was in companies with >250 employees. Smaller businesses shed jobs. This is worrisome because small business is the backbone of an economy.
3. Very weird dynamics. Few growth sectors outside of healthcare (TTU and financial activities) with a lot of other sectors showing contraction. Especially white collar sectors.
4. Job switchers are back to seeing considerable wage gains, relative to stayers.
Any minute now it’s going to be a thread full of replies about why this is bad and we should all build forts under our house and stockpile canned goods because “manufactured statistics.”
I suspect we will see more minor “growth”. But my assumption is that a good portion of those numbers are the rehirings from the premature firings riding the AI hype. So basically, we’re clawing back some of those jobs.
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I have had a few recruiters reach out to me on LinkedIn. This is after about three years of no recruiters reaching out to me. I have been employed the whole time though.
This doesn’t counter fears, 42,000 is abysmally low and if it’s not distributed across the economy especially in middle income brackets, it basically makes no difference.
Every day I hear about how everyone’s getting laid off and every day* it still takes me 30mins – 1hr to drive 5 goddamn miles to work because there’s so much people-going-to-their-jobs traffic.
*Ok mainly Tues-Thurs – many people apparently still have enough leverage to maintain a hybrid schedule.
Still too low, need to find a way to transition structurally unemployed workers through private companies. Will be tough for awhile. Industries probably don’t even exist yet.