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Private sector lost 32,000 jobs in September, ADP says
Fox Businessยท 2025-10-01 13:01
Group 1: Job Market Overview - Private sector companies lost 32,000 jobs in June, which is below economists' expectations of a gain of 50,000 jobs [1] - The previous month's payrolls were revised down from a gain of 54,000 to a loss of 3,000 [1] - Despite strong economic growth in Q2, U.S. employers remain cautious with hiring [2] Group 2: Sector Performance - The education and health services sector gained 33,000 jobs, while leisure and hospitality lost 19,000 positions [3][5] - Other sectors such as natural resources and mining added 4,000 jobs, and information gained 3,000 [3] - Professional and business services lost 13,000 jobs, financial activities shed 9,000, and trade, transportation, and utilities lost 7,000 jobs [5][7] Group 3: Business Size Impact - Large businesses (500 or more employees) added 33,000 jobs, while businesses with 50 to 499 employees lost 20,000 jobs [9] - Establishments with fewer than 50 employees shed 40,000 jobs [9] Group 4: Wage Growth - Wage growth remained little changed, with pay for those staying in their roles climbing 4.5% year-over-year [9] - Pay gains for those remaining in their jobs slowed to 6.6% from 7.1% in August [9] Group 5: Economic Data Release Concerns - The ADP data is released prior to the Labor Department's nonfarm payrolls report, which is expected to show an increase of 50,000 positions [10] - Due to a partial government shutdown, the Labor Department will halt all economic data releases, including jobless claims and nonfarm payrolls data [10] - The Chicago Federal Reserve President indicated that alternate data sources will be considered for the October meeting if official data is not available [11]