PiCK
US Private-Sector Hiring Slows as ADP Weekly Average Falls to 18,500 From 26,000
Minseung Kang
Summary
- ADP said the average weekly increase in U.S. private-sector employment over the four weeks through Oct. 3 was 18,500.
- That was about 29% lower than the previous reading of 26,000 a week.
- The decline in the four-week moving average for job growth suggests hiring momentum in the U.S. private-sector labor market has weakened in October.
Forecast Trend Report by Period
U.S. private-sector hiring has slowed in recent weeks.
Walter Bloomberg, which carries breaking international economic news, reported on Oct. 20 that ADP put the four-week average weekly increase in U.S. private-sector employment at 18,500 in the period through Oct. 3.
That was about 29% lower than the previous reading of 26,000 a week.
The drop in the four-week moving average suggests hiring momentum in the U.S. private-sector labor market has weakened in October.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.