"October Sees 113,000 Job Increase and 5.7% Rise in Annual Pay: ADP Report"

According to the ADP National Employment Report, private sector employment in the US increased by 113,000 jobs in October, with annual pay up 5.7% year-over-year. The report provides insights into job growth and pay trends based on anonymized payroll data. While no single industry dominated hiring, leisure and hospitality, education, and healthcare were the top job creators. Pay growth slowed to a two-year low, with job-stayers experiencing a 5.7% increase in pay, while job-changers saw an 8.4% increase. Despite a slowdown in the labor market, consumer spending remains strong.