Private Payrolls Decline 32,000 In September, Defy Wall Street Expectations
Synopsis
This represents the largest decline in private jobs in two and a half years, according to data from ADP, and is lower than the 53,000 decline in March 2023, amid signs of further weakening in labor market conditions.
Private payrolls declined by 32,000 in September, amid further signs of weakening labor market conditions. This represents the largest decline in private jobs in two and a half years, according to data from ADP. The figure is lower than the 53,000 decline seen in March 2023.
The September payroll decline stands in contrast with Wall Street expectations of an addition of 45,000 jobs during the month, according to MarketWatch.
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