by Calculated Risk on 10/01/2025 08:15:00 AM

From ADP: ADP National Employment Report: Private Sector Employment Shed 32,000 Jobs in September; Annual Pay was Up 4.5%

“Despite the strong economic growth we saw in the second quarter, this month's release further validates what we've been seeing in the labor market, that U.S. employers have been cautious with hiring,” said Dr. Nela Richardson, chief economist, ADP.
emphasis added

This was well below the consensus forecast of 48,000 jobs added. The BLS report will be released Friday, and the consensus is for 43,000 non-farm payroll jobs added in September.