US has a stagnant labor market, ADP’s Richardson says #shorts #economy #markets #labormarket #jobs

Labor Market Assessment - September hiring estimated at negative 32,000, indicating a slowdown in hiring momentum [1] - Hiring momentum has slowed since the beginning of the year, leading to a weak labor market in terms of hiring [2] - The labor market is stagnant, characterized by a strong stock but weak flow into and out of the market [3][4] Economic Implications - Consumer spending that fueled Q2's 3.8% growth rate was supported by the labor market [4] - The current level of economic productivity lacks the dynamism needed for consistent job creation [5]