In October, private sector employment in the US increased by 233,000, surpassing market expectations. The private sector employment in the US increased by 233,000 in October, exceeding market expectations and marking the highest increase since July 2023. It was anticipated that private sector employment would increase by 110,000 during this period. The national employment report for October, prepared by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab, was published. The data for September regarding the increase in private sector employment was revised from 143,000 to 159,000. Employment increased by 4,000 in small businesses, 86,000 in medium-sized businesses, and 140,000 in large businesses during this period. Of the total employment growth, 211,000 occurred in the service sector, while 22,000 occurred in the production sector. According to the ADP private employment data calculated using payroll information from over 25 million employees in the US, annual wages increased by 4.6% in October. The annual wage increase was recorded at 4.7% in September. Nela Richardson, Chief Economist at the ADP Research Institute, noted in her assessment of the data that employment growth remained strong in October, even amidst post-hurricane recovery. Richardson stated, “As we approach the end of the year, hiring in the US continues to be strong and overall resilient.”