ADP report: Private employers unexpectedly shed 32,000 jobs as labor market continues pullback

US private employers shed 32,000 jobs in September, the latest sign that the labor market is in a serious pullback. The data out Wednesday from payroll processor ADP was far below economists’ expectations of 51,000 jobs added. Private payrolls for August were also revised sharply lower to a loss of 3,000, after data initially showed a gain of 54,000. “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 ...