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E.J. Antoni: ADP private payroll growth slowed to 18.5k per week through Oct 3

E.J. Antoni: ADP private payroll growth slowed to 18.5k per week through Oct 3
ADP data shows payroll growth slows

Private payroll growth slowed to 18,500 per week, or approximately 74,000 per month, for the four weeks ending October 3, according to ADP data.

E.J. Antoni reported that this represents the first slowdown in job growth since mid August.

Earlier, E.J. Antoni noted that CPI rent prices are lagging and do not yet reflect lower real-world rent inflation. He also reported that U.S. private oil stocks dropped by nearly 3.2 million barrels last week. These observations come as new labor data signal a shift in private payroll growth momentum.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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