The weekly data from ADP is turning into a market mover. The initial report showed a healthy +14,250 jobs but skip ahead two weeks and it's now showing a drop of 11,250K per week on average for the past four weeks. That should translate into a poor reading, though ADP itself reported +42K jobs in October. I'm not sure how to square that but today's ADP release said the labor market struggled to produce jobs consistently during the second half of October. (full story)

Recent announcements of large layoffs at a few prominent companies have raised concerns that the labor market could be weakening further, and today's new weekly ADP employment report confirms that fear. The ADP weekly jobless report pointed to a deterioration in US labor momentum, stating that “for the four weeks ending Oct. 25, 2025, private employers shed an average of 11,250 jobs a week, suggesting that the labor market struggled to produce jobs consistently during the second half of the month.” A sustained increase in layoffs would be particularly concerning now because the hiring rate is low and it is harder ... (full story)