A worker hits the sidewalk with a power wash under scaffolding on May 21 in New York City. ADP data indicates private companies lost an average of 13,500 jobs each week in the four weeks ending November 8. File Photo by John Angelillo/UPI | License Photo
Private companies’ payrolls decreased by an average of 13,500 jobs for each of the four weeks ending Nov. 8, data from payroll processing company ADP indicates Tuesday.
The data was released as part of ADP’s weekly National Employment Report Pulse based on a four-week moving average of employment across the country. ADP releases this report three times a month, on the weeks when it doesn’t publish its monthly report, the last of which was Nov. 5.
The Nov. 5 report showed that private companies added 42,000 jobs in October.
Last week’s NER Pulse report showed a 2,500 average weekly job loss. The jump to 13,500 jobs lost per week is reflective of the growing pace of layoffs.
U.S. companies cut more than 150,000 jobs in October, the highest number of layoffs for that month since 2003.
Economists have had to rely more on ADP’s weekly and monthly reports as the release of federal data continues to be affected by the record 43-day shutdown, which ended Nov. 12, CNBC reported.
On Wednesday, the Bureau of Labor Statistics said its October jobs report won’t be released as planned. Instead, some of the data will come out in the full report for November. BLS officials said the report won’t include the unemployment rate for October because those figures allegedly couldn’t be collected during the shutdown.
