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RE: LeoThread 2023-10-04 09:47

in LeoFinance • 2 years ago

🧵 1. Private payrolls in the US rose 89k in September, missing expectations and suggesting a slowdown in job growth, according to ADP report. #finance

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🧵 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.