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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.
See: Why GDP is likely to show a more wobbly U.S. economy in the third quarter
Wednesday’s ADP report comes ahead of the more closely watched release on job creation from the federal government on Friday.
Market reaction: Futures for the Dow Jones Industrial Average YMZ19, -0.04% were little changed on Wednesday, as traders waited for a Federal Reserve decision.
