Employment gains despite housing hit - report

Private nonfarm employment gained 106,000 jobs in October while construction lost 16,000; finance lost 1,000.


NEW YORK (CNNMoney.com) -- Employment accelerated from September to October despite declines in residential construction and financial activities, according to the ADP National Employment Report released Wednesday.

Overall, private nonfarm employment gained 106,000, according to the ADP report, compared with an average gain of 43,000 jobs in the last three months. Service provider jobs grew 134,000 while employment in the goods-producing sector fell by 28,000, the eleventh consecutive monthly decline. Manufacturing jobs fell 14,000.

Hit by mortgage market woes, employment in the construction sector fell 16,000 in October, the thirteenth decline in the last fourteen months, and employment in the financial activities sector lost 1,000, ADP said. Small- and medium-size businesses gained 113,000 while employment among large businesses fell by 7,000 in October, the fifth consecutive monthly decline. Top of page

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.