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The ADP weekly report shows that the number of jobs in the private sector has accelerated its decline over the past four weeks.
Odaily News US employment data processing company ADP announced on Tuesday that as layoffs accelerated over the past four weeks, the US labor market is showing further signs of weakness. The latest data shows that private sector employers reduced an average of 13,500 jobs per week over the past four weeks. This is an acceleration compared to the 2,500 jobs per week reduction reported a week earlier. Due to the previous government shutdown still affecting data releases, alternative data like that from ADP has been filling in the gaps in the economic picture. (Jin10)