U.S. Job Market Shows Steeper Decline as Layoffs Accelerate, CNBC Reports

(JEWISH VOICE NEWS) The U.S. labor market is flashing fresh warning signs as layoffs grow more frequent, according to new figures from payroll processor ADP.

As CNBC reported, ADP’s Tuesday update shows private employers have shed an average of 13,500 jobs per week over the past month — a sharp jump from the roughly 2,500 weekly job losses noted in its prior update.

With the ongoing government shutdown delaying key economic data, CNBC reported that ADP’s rolling indicators have become an essential stand-in for understanding current labor conditions. Federal agencies including the Bureau of Labor Statistics and the Bureau of Economic Analysis have issued revised timetables for major releases, but crucial reports such as the monthly nonfarm payroll count won’t arrive until December.

As CNBC noted, the data gaps mean Federal Reserve policymakers will enter their December 9–10 meeting with only a limited set of conventional indicators. Several Fed officials have recently argued in favor of additional interest-rate cuts, prompting markets to shift their expectations toward a reduction next month.

Goldman Sachs chief economist Jan Hatzius, cited by CNBC, wrote in a Sunday client note that the lack of data leading up to the meeting leaves little that could “derail a cut on December 10.” Once the delayed reports arrive, Hatzius expects signs of renewed job losses in October, even though the BLS—per CNBC’s reporting—recently showed stronger-than-expected September payroll growth of 119,000.

According to CNBC, Goldman analysts anticipate the Fed will respond to the weakening labor picture by cutting rates in December, followed by two additional quarter-point reductions in 2026.