September Unemployment Situation

The U.S. Bureau of Labor Statistics data regarding the Unemployment situation in September was not released on October 3^rd as scheduled due to the Federal Government shutdown.

Based on the alternative data from ADP we see:

According to ADP:

Private employers shed 32,000 jobs in September

ADP provides an independent (non-government) estimate of private-sector employment and pay, based on data derived from ADP client payrolls. According to ADP®, In collaboration with Stanford Digital Economy Lab. The numbers are released a few days before the BLS numbers and are often quite different.

Source: ADP®

ADP Private Employment by Establishment Size

Small to medium-sized companies shed employees in September. However, larger companies took up some of the slack by adding employees.

ADP Job Gainers / Losers

Drilling down a bit deeper, we can see that the largest gainer was Education and Health which makes sense with school going back in session and health always looking for more help. And the biggest loser isn’t surprising either as Leisure and Hospitality cuts back as the Summer winds down.

ADP Pay Insights

September pay gains were steady for job-stayers

Year-over-year pay growth for job-stayers was little changed in September at 4.5 percent. Pay gains for job-changers slowed to 6.6 percent from 7.1 percent in August, led by leisure and hospitality and financial activities.

The Median Annual Pay for Job Stayers in September was $61,000.

Source: ADP

Read more on UnemploymentData.com.