ADP Reports September Job Losses; Concerns Mount Over Economic Data and Trump’s Policies
The September ADP report revealed a concerning downturn in the US private sector, with a loss of 32,000 jobs and a significant downward revision of August’s figures. This decline, driven primarily by small businesses and widespread across various industries, contrasts sharply with economists’ expectations. The revision was, in part, due to a preliminary benchmarking of data, which adjusted the picture of hiring trends. These findings, coupled with other indicators like the BLS report, point toward a slowing labor market, heightening concerns amidst government uncertainties.
John Q. Hosedrinker