The US private sector lost 32,000 jobs in September, according to payroll processor ADP, defying analysts’ expectations of employment growth. The biggest losses came in leisure and hospitality, professional services, and financial activities, AFP reported.Hiring also contracted in trade, transportation and utilities, along with manufacturing, the report showed.“Despite the strong economic growth we saw in the second quarter, this month’s release further validates what we’ve been seeing in the labor market, that US employers have been cautious with hiring,” said ADP chief economist Nela Richardson in a statement.Salaries rose 4.5 percent year-on-year, a rate that ADP said was “little changed.” Pay gains for job-switchers slowed to 6.6 percent in September from 7.1 percent in August.ADP noted that the monthly reduction reflected an annual preliminary adjustment of its figures based on 2024 results from the quarterly census of employment and wages. After this benchmarking, September’s job losses came to 43,000.The report comes as US policymakers watch the labour market closely. The Federal Reserve cut interest rates for the first time this year in September amid employment concerns. Economists have cautioned, however, that ADP figures often diverge from official government data.
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