(AURN News) — The U.S. economy continued its downward spiral in September as private employers shed 32,000 jobs, according to the latest employment report from ADP.
Construction lost 5,000 jobs, manufacturing dropped 2,000, and trade, transportation and utilities were down by 7,000. Financial activities cut 9,000 positions, leisure and hospitality lost 19,000. Even professional and business services fell by 13,000 — just to name a few.
The Midwest took the biggest hit when it comes to job losses.
Wage growth for workers who stayed in their jobs came in at 4.5%. For job changers, the pace slowed to 6.6% after hitting 7.1% in August.
The only group to post gains was large employers, companies with more than 500 workers, which added 33,000 jobs.
“Despite the strong economic growth we saw in the second quarter, this month’s release further validates what we’ve been seeing in the labor market, that U.S. employers have been cautious with hiring,” said Dr. Nela Richardson, chief economist for ADP.
The ADP report is based on payroll data from more than 26 million private-sector employees.
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