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00:03Private sector employment in the U.S. fell by 32,000 jobs in September,
00:07according to the ADP National Employment Report, according to Reuters.
00:11It was the largest decline since March 2023, with most of the weakness from small and mid-sized
00:16businesses, while large employers added 33,000 positions. Economists had expected Friday's
00:23government jobs report to show 50,000 hires, but the release could be delayed after the Bureau of
00:28Labor Statistics halted operations due to the government shutdown. Analysts said the ADP report
00:33suggests a sharp softening in labor momentum, with the Federal Reserve likely to weigh the data when
00:38it meets on October 29th. ADP also revised August data to show a loss of 3,000 jobs compared with
00:45an earlier estimate of a 54,000 gain. For all things money, visit Benzinga.com.
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