ADP Data Signals Weak Job Market As Shutdown Threatens To Delay BLS Report Expected Friday

Benzinga

U.S. private-sector jobs fell by 32,000 in September, the steepest drop since March 2023, as small and midsize firms cut positions. Large employers added 33,000 jobs, but ADP revised August to show a loss instead of gains. The report signals weakening labor momentum as the Fed prepares for its October 29 meeting.

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00:00It's Benzinga, bringing Wall Street to Main Street.

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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