From Yahoo Finance, October 1:
The data adds to mounting signs of trouble in the job market.
US private employers shed 32,000 jobs in September, the latest sign that the labor market is in a serious pullback.
The data out Wednesday from payroll processor ADP was far below economists’ expectations of 51,000 jobs added. Private payrolls for August were also revised sharply lower to a loss of 3,000, after data initially showed a gain of 54,000.
“Despite the strong economic growth we saw in the second quarter, this month's release further validates what we've been seeing in the labor market, that US employers have been cautious with hiring,” ADP chief economist Nela Richardson said in a statement.
The drop in private payrolls was led by small- and medium-size businesses, though companies employing over 500 people actually added 33,000 positions in September, ADP said. By sector, service-providing companies — including leisure and hospitality as well as business services — suffered in particular, seeing a decline of 28,000 positions....
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