The U.S. labor market may be rebounding after several months of cooling employment conditions, new data released on Oct. 28 show.
Lacking government-sourced data, private payroll processor ADP Research will publish a rolling, four-week average of weekly employment changes each Tuesday starting this week. The preliminary data will function with a two-week lag.
U.S. private companies created an average of 14,250 new jobs per week over the four weeks ending Oct. 11, ADP said in the report.
The ADP projection suggests employment growth totaled approximately 57,000 over the four weeks.
By comparison, private businesses eliminated 32,000 jobs in September, reflecting the sharpest payroll decline since March 2023, according to the latest National Employment Report. This followed a headcount reduction of 3,000 in August….