Private job gains edged lower in October, with companies adding 182,000 new positions as economic growth cooled, according to a report from ADP and Moody's Analytics.
The growth actually was a shade better than the 180,000 expected, according to FactSet, but was in keeping with a reduced pace of employment growth across the U.S. economy. The total declined from the 190,000 in September, a number that in itself was revised lower from the originally reported 200,000.
Job creation has slowed considerably from the same period 12 months ago, falling about 21 percent from October 2014. The last three months have seen an average of 184,000 jobs a month. By comparison the three-month period from October to December 2014 saw an average of 263,000 new private jobs, according to ADP and Moody's.
Nevertheless, Mark Zandi, chief economist at Moody's, rejected the notion that job creation has slowed.
"There is no meaningful slowdown in job growth," he told CNBC. "There has been some moderation because of the energy sector and manufacturing. But this job market, everything points to a very sold, strong jobs market."