The numbers: The nation’s businesses created 125,000 private-sector jobs in October, payroll processor ADP said Thursday.
Economists polled by Econoday had forecast a gain of 125,000.
The September total for jobs added was revised down from an initial 135,000 to 93,000, ADP said.
What happened: Large businesses, meaning those with about 500 employees or more, added 44,000 jobs. Mid-sized enterprises (50-499 employees) added 64,000 positions, while small employers, or those with one to 49 workers, tacked on 17,000 jobs.
Big picture: The American economy has been slowing, and economists have predicted that job creation will continue to slow due to a trade war with China that has damaged the global economy and boomeranged on the U.S.
Wednesday’s ADP report comes ahead of the more closely watched release on job creation from the federal government on Friday.