Quick Analysis of September ADP Data in the United States
The September ADP data in the United States shows that the number of new jobs added by American companies last month exceeded expectations, which is inconsistent with other indicators showing a cooling labor market. The growth in the number of new jobs indicates a rebound in the employment market after experiencing a slowdown for five consecutive months, especially after the data hit the lowest level since March 2023 last month. Nevertheless, the three-month average growth rate has dropped to 119,000, one of the lowest levels since 2020