The loss, the worst figure reported by the payroll processing company in two-and-a-half years, was far below the 45,000-job increase that had been forecast by economists surveyed by The Wall Street Journal.
That makes August and September the first consecutive negative months since Covid-19 was ravaging the economy. The ADP also reported losses in June, meaning it’s also the first time since the pandemic era when three of four consecutive months have seen losses. (In 2020, the private sector shed jobs each month from March to July.)
The worrying snapshot of Trump’s economy comes as this week’s government shutdown has cast the U.S. into a blackout of government economic data. The Bureau of Labor Statistics was scheduled to deliver its much-anticipated monthly jobs report on Friday (after a delay from last week), but will not do so should the shutdown persist through the end of the week.
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