🧵 1. Private payrolls in the US rose 89k in September, missing expectations and suggesting a slowdown in job growth, according to ADP report. #finance
🧵 1. Private payrolls in the US rose 89k in September, missing expectations and suggesting a slowdown in job growth, according to ADP report. #finance
🧵 2. This report could influence the Fed's decision on interest rates and highlights a decline in annual wage growth, slowing for 12 straight months.
🧵 3. Experts estimate non-farm payrolls increased by 170k last month, but ADP numbers don't always align with the government's official count.
🧵 4. Service sector saw the majority of job gains with leisure and hospitality leading the way, while professional services and manufacturing experienced losses.
🧵 5. ADP's chief economist noted a notable decline in jobs and wages, contrasting with the recent rise in job openings reported by the Labor Department.
🧵 Read more at: https://www.cnbc.com/2023/10/04/private-payrolls-rose-89000-in-september-much-fewer-than-expected-adp-says.html