Quick Analysis of September ADP Data in the United States

Wallstreetcn
2024.10.02 12:31

The September ADP data in the United States shows that the number of new jobs added by American companies last month exceeded expectations, which is inconsistent with other indicators showing a cooling labor market. The growth in the number of new jobs indicates a rebound in the employment market after experiencing a slowdown for five consecutive months, especially after the data hit the lowest level since March 2023 last month. Nevertheless, the three-month average growth rate has dropped to 119,000, one of the lowest levels since 2020