Private sector employment increased by 106,000 in October, according to data from payroll processor ADP.
The company's ADP National Employment Report showed small businesses added 63,000 jobs in the non-farm private sector, while midsized businesses added 50,000. However, there was a decline of 7,000 jobs in large businesses.
The service-producing sector added the bulk of new jobs, accounting for 134,000 jobs. The goods-producing sector lost 28,000 jobs, including a drop of 14,000 jobs in the manufacturing industry.
Problems in the mortgage market hit two sectors of the economy particularly hard: residential construction and financial activities related to home sales and mortgage lending.
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