ADP’s Weekly Gauge Shows Private Payrolls Falling 13,500 Per Week in Early November

Overview

• For the four weeks ending November 8, ADP estimates private employers cut an average of 13,500 jobs per week.
• The NER Pulse uses a four-week moving average drawn from ADP’s high-frequency payroll data and is seasonally adjusted with a two-week lag.
• ADP releases the Pulse three times a month on Tuesdays at 8:15 a.m. ET, posting details on Main Street Macro and the ADP Media Center.
• ADP labels the figures preliminary and subject to revision as additional payroll information is incorporated.
• The latest reading is weaker than last week’s Pulse estimate of 2,500 weekly losses and contrasts with ADP’s November 5 monthly report showing a 42,000 October gain, as economists lean on private trackers during BLS reporting delays following the recent federal shutdown.