US Companies Add Fewer Jobs Than Forecast, ADP Data Show

US companies added fewer jobs than forecast in October, suggesting demand for workers is starting to wane.

Private payrolls increased 113,000 last month after posting the weakest advance in two years in September, according to figures published Wednesday by the ADP Research Institute in collaboration with Stanford Digital Economy Lab. The median estimate in a Bloomberg survey of economists called for a reading of 150,000.

Job gains were broad across establishment sizes and industries, led by education and health services as well as trade and transportation. Leisure and hospitality, which has helped drive the post-pandemic recovery, added the ...