Pasadena, CA -- (SBWIRE) -- 11/08/2010 -- The latest report from payroll firm ADP says that in October around 43,000 jobs were created in the private sector.

ADP’s report, called the ADP National Employment Report, is made by using the actual payroll data and tracks the total nonfarm private employment every month. The official jobless report will be released on November 5 by the Bureau of Labor Statistics. But the ADP report is considered a good guide to the jobs market since it is one of the largest payroll processors for private companies.

The report shows that small and medium sized businesses created 45,000 jobs while large businesses let go another 2,000 people. The main decline came from 34,000 jobs losses in the goods-producing sector while the service sector was able to add 77,000 jobs. Gary C. Butler, President and CEO of ADP, said that the report shows that the private sector employment scenario remains frustratingly stagnant.

Leisure and hospitality industry has been one of the main sources of jobs creation in this year. CEO A. Harrison Barnes of Hound says that restaurants and fast food chains are among the biggest hirers right now. “Construction and manufacturing are down, but service sector jobs are the main source of jobs right now.” Hound has been able to find over 140,000 jobs.