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Private employment declined by 32,000 jobs in September, according to the latest ADP National Employment Report.
“Despite the strong economic growth we saw in the second quarter,” said Dr. Nela Richardson, ADP’s chief economist, “this month’s release further validates what we’ve been seeing in the labor market, that U.S. employers have been cautious with hiring.”
The September figure represents a significant shift from typical monthly gains and was influenced by ADP’s annual preliminary rebenchmarking, which resulted in a reduction of 43,000 jobs compared to pre-benchmarked data. Additionally, August’s job creation was revised downward from 54,000 to -3,000 jobs.
Service-providing industries