- Private payroll growth tailed off sharply in September, according to an ADP report Wednesday that provides a counterweight to other signs that the labor market is still running strong.
- “We are seeing a steepening decline in jobs this month,” said Nela Richardson, chief economist at ADP.
- “Additionally, we are seeing a steady decline in wages in the past 12 months.”
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Wage Growth, Hiring Plummet
FILE - In this Saturday, Feb. 6, 2021 file photo, a now hiring sign is displayed at a CD One Price Cleaners in Schaumburg, Ill. The number of Americans applying for unemployment aid rose last week to 861,000, evidence that layoffs remain painfully high despite a steady drop in the number of confirmed viral infections. Applications from laid-off workers rose 13,000 from the previous week, which was revised sharply higher, the Labor Department said Thursday, Feb. 18. (AP Photo/Nam Y. Huh, File)
