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ADP Weekly Report: For the four weeks ending on November 1st, U.S. businesses have been averaging approximately 2,500 weekly layoffs.
BlockBeats News, November 18th, according to data released by ADP Research on Tuesday, as of the four weeks ending on November 1st, U.S. companies have been laying off an average of about 2,500 employees per week. This indicates that the labor market lost some momentum in late October.
The monthly employment report released on November 5th showed that private sector employment increased by 42,000 people, following two consecutive months of decline.
The U.S. Bureau of Labor Statistics will release the employment report for September on Thursday, with U.S. total employment expected to increase by 55,000 people from the previous month. Prior to ADP's weekly data release, several large companies had already announced layoffs for the month, including Amazon and Target. According to a report from Challenger, the number of planned layoffs in October this year is the highest in over twenty years. (Jinshi)
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