Private sector job growth cools sharply in September to slowest pace since 2021: ADP

[mystery-ak]

Published October 4, 2023 8:25am EDT
Private sector job growth cools sharply in September to slowest pace since 2021: ADP
Job growth cools much faster than expected in September, ADP report shows

By Megan Henney

Hiring by U.S. companies slowed more than expected in September, pointing to a labor market that is starting to cool in the face of higher interest rates, according to the ADP National Employment Report released Wednesday morning.

Companies added 89,000 jobs last month, below the 153,000 gain that economists surveyed by Refinitiv predicted. That is also much lower than the revised 180,000 increase recorded in August.

It marked the worst month for job creation since January 2021.

"We are seeing a steepening decline in jobs this month," said Nela Richardson, ADP chief economist. "Additionally, we are seeing a steady decline in wages in the past 12 months."

more
https://www.foxbusiness.com/economy/private-sector-job-growth-cools-sharply-september-slowest-pace-2021-adp

[LMAO]

If this matches the jobs report that comes out, I believe this Friday, and it continues… Hello stagflation

Joe Biden’s attempt to cheerlead the economy is gonna fall further and further flat with the public at large.

We will have a whole new generation of voters who don’t remember the 1970s. The first one who attempts to bring back disco will be shot on site.