ADP reports private-sector employers added 235,000 jobs in October up from the 110,000 gain in September. Small businesses added 79,000 job, medium 66,000, and large 90,000. Most of those gains were in the service sector — with 150,000 jobs and 85,000 for goods producers. Construction was also up.
The Commerce Department reports construction outlays rose in September, led by a surge in government spending, running at a seasonally adjusted annual rate of $1.22 billion. Spending increased 0.3% during the month, and is 2% higher than a year ago. During the first nine months of the year spending was $917 billion, 4.3% higher than the first nine month of 2016. For the second month in a row, public works projects drove the spending increase. Public-sector outlays were 2.6% higher than in August, while private-sector spending was 0.4% lower. Compared to a year ago, however, the pace of total public construction spending is 1.6% lower, while overall private spending is 3.1% higher. Residential construction was flat for the month, but 9.5% higher for the year. Nearly all that is on single-family homes.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
