Payroll giant ADP reported that hiring in the financial activities sector increased by 9,000 in October.

The ADP National Employment Report found that the private sector added 158,000 jobs in October, including 9,000 jobs in financial activities. The U.S. Bureau of Labor Statistics reported Friday that the private and public sectors together added 171,000 jobs in October, with the unemployment rate inching up a tenth of a percent to 7.9 percent.

“Based on the BLS data, we are starting to see job growth in the shadow banking system,” said Mark Zandi, chief economist at Moody’s Analytics during a conference call with reporters Thursday. “The Bank of Americas of the world are scaling back and payrolls are declining. A lot of the job growth is occurring in hedge funds and private equity firms, but that job growth is hard to pick up.”

Moody’s has begun compiling the monthly payroll reports for ADP, breaking out the data in new ways (see ADP Teams with Moody’s on Employment Report).

Small businesses with 1 to 19 employees added 18,000 jobs, while small businesses with 20 to 49 employees added 32,000 jobs. Midsize businesses with 50 to 499 employees added 27,000 jobs.

Large businesses with 500 to 999 employees added 12,000 jobs, while even larger businesses with 1,000 employees or more added 69,000 jobs.

The goods-producing sector added 14,000 jobs, while the service-providing sector added 144,000 jobs.

The construction industry say job gains of 23,000, while the manufacturing industry lost 8,000 jobs. The trade, transportation and utilities group added 24,000 jobs, while professional and business services added 35,000.

“As the construction sector turns, we’ll start to get more jobs in financial brokerages, but so far most of the [financial activities] job growth has been in that shadow banking system,” said Zandi.

ADP also revised downward the number of private sector job gains it had reported for September, to 114,000 from 162,000.