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The October National Employment Report, compiled by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab, has been released.
As a result, private sector employment in the United States increased by 239,000 in October.
Employment in the private sector, which has exceeded market expectations, is expected to increase by 195k.
Employment in the private sector, which shows that despite rising interest rates and tighter financial conditions, demand for labor remained strong, increased by 192,000 in September.
While the number of employees increased by 25,000 in small businesses and 218,000 in medium-sized enterprises, there was a decline of 4,000 in large companies.
DECREASE IN EMPLOYMENT IN THE MANUFACTURING SECTOR
In the aforementioned period, employment in the service sector increased by 247,000 people, while employment in the production sector decreased by 8,000.
Annual wages rose 7.7% in October, according to ADP’s private employment veri, calculated using payroll information for more than 25 million U.S. employees. The annual wage increase was 7.8 percent in September.
Nela Richardson, chief economist at the ADP Research Institute, said in her assessment on the subject that increasing private sector employment is a strong figure given the maturity of the economic recovery, hayvanların hiring is not on a large scale.
Stressing that the rise in interest rates has affected producers, Richardson said that the first signs of “destruction” of demand from the US Federal Reserve (Fed) have been seen and that this has affected only certain sectors of the labor market. .