US September Hiring Increases, Breaking Five-Month Trend of Slowing Job Growth
CVSCVS Health(CVS) Gurufocus·2024-10-02 22:51

In September, US companies increased hiring activity, ending a five-month slowdown in employment growth. Data from the ADP report, often called "mini non-farm payrolls," showed an increase of 143,000 jobs, surpassing economists' expectations of 125,000, while August saw the smallest gain since March 2023. Although job numbers bounced back, the three-month average fell to 119,000, the lowest since 2020.Other indicators also suggest a cooling US labor market: the unemployment rate has steadily risen in recent ...