ADP Hiring Growth Slows for Second Week
According to ADP’s NER Pulse, private employers added 67,000 jobs, or 16,750 a week, in the four weeks ending October 10, a second week of slowing and the fewest since the period ending August 29. It also revised the prior week down to 70,000 from 74,000.
The four-week moving average of those totals also fell for a second week, to 85,500, the lowest since the period ending September 19. That’s down from a peak of 93,750 in the four weeks ending September 26.
The pace remains healthy, though. At roughly 72,600 a month, it’s above most recent estimates of breakeven job growth, the pace needed to hold the unemployment rate steady. The Federal Reserve Board puts that at “less than 10,000 new jobs per month in 2026,” and the St. Louis Fed estimates a range of 15,000 to 87,000.
ADP’s next report will be its monthly report November 4th.
