Overview
- ADP reports private employers shed an average of 11,250 jobs per week in the four weeks ending October 25, indicating softer hiring late in the month.
- The company stressed the weekly estimate is preliminary and subject to revision as additional payroll information is incorporated.
- The late‑October decline contrasts with ADP’s report of 42,000 private payroll gains for October and an earlier four‑week average of +14,250 through October 11, underscoring volatile intra‑month trends.
- Goldman Sachs expects a 50,000 decline in October nonfarm payrolls, while a Dow Jones economist survey projects a 60,000 drop and unemployment rising to 4.5%.
- Indeed says job openings fell to their lowest since February 2021, and Challenger, Gray & Christmas counts more than 1 million announced job cuts this year, up 65% from the same period in 2024.