Economists Disappointed by Slowest Private Sector Job Growth Since January

The ADP report estimates 89,000 private sector jobs were added in September, far below expectations of 153,000 jobs.

September job growth was the slowest reported by ADP since January 2021.

Leisure and hospitality led job gains with 92,000 positions added. Losses were seen in professional/business services, trade/transportation/utilities, and manufacturing.

Large businesses with 500+ employees drove the decline, losing 83,000 jobs.

The official September jobs report from the Bureau of Labor Statistics will be released on Friday. Economists expect 170,000 jobs were added.