Private sector created nearly 15,000 jobs a week over the past month, preliminary ADP data shows

Private sector employers have shown a positive trend in job creation over the past four weeks, with an average of 14,250 jobs added per week, according to new preliminary data released by ADP. This marks a significant turnaround from the negative numbers reported in September.

In response to the government shutdown, ADP has stepped in to provide weekly updates on employment data, offering a four-week average weekly change in employment with a two-week lag every Tuesday. The latest data, covering the four-week period ending on Oct. 11, paints a clearer picture of the current labor market situation.

ADP’s chief economist, Nela Richardson, highlighted the importance of this near real-time employment data in providing a dynamic view of job creation and loss during this critical time for the economy. This new approach aims to offer unprecedented weekly detail on job growth, complementing the more traditional monthly reports.

While the National Employment Report (NER) remains a key indicator of monthly job growth, the preliminary data from ADP provides a valuable guide to understanding the current state of the job market. The four-week moving average of weekly job growth is expected to be revised monthly alongside the release of the NER.

The latest data indicates a total job growth of around 55,000 for the four-week period, a significant improvement from the -32,000 reported for September. However, it is important to note that these numbers are subject to revision as more data becomes available.

Overall, the positive trend in job creation in the private sector is a promising sign for the economy, showcasing resilience and adaptability in the face of challenges. Stay tuned for more updates as ADP continues to provide valuable insights into the evolving labor market landscape.