US EditionAmerica Saw ‘Essentially No Job Growth’ Last Month, Moody’s Warns
Private data shows the US labor market was weak in September with an estimated loss of 32,000 private sector jobs and gains concentrated in three wealthy states, Moody's said.
- Last month, Moody's analysis showed averaging Revelio and ADP suggests essentially no job growth, with gains almost exclusively in California, New York, and Massachusetts.
- The government shutdown disabled the BLS' usual data releases, halting the September report slated for Friday that economists polled by LSEG expected to show a 50,000-job gain.
- Private reports highlighted a decline in private-sector jobs last month, with gains in the healthcare sector concentrated at very large companies over 500 employees while smaller companies faced losses.
- Markets climbed confidently despite missing jobs data last week, while economists warned that lacking Bureau of Labor Statistics figures hampers economic and policy assessments.
- Analysts note private data fills the void, but Moody's Analytics chief economist Mark Zandi wrote `While not a replacement, there are good private sources of jobs data`, even as forecasters warned official figures may be distorted.
11 Articles
11 Articles
America saw 'essentially no job growth' last month, Moody's warns
(NewsNation) — With official data on hold due to the government shutdown, economists are turning to private reports, and the early signs, according to Moody's, aren't good. "This data shows that the job market is weak and getting weaker," Moody's Analytics chief economist Mark Zandi wrote Sunday. Zandi pointed to two separate private reports — from ADP and Revelio Labs — which, when averaged together, suggest there was "essentially no job growth…
The US economy saw 'essentially no job growth' last month: Moody's
A leading economist is warning that job creation in the U.S. economy is slowing to a crawl as the ongoing government shutdown precluded the release of the September jobs report last week.Moody's Analytics chief economist Mark Zandi wrote Sunday in a post on X noting that the shutdown forestalled the release of the September jobs report from the Bureau of Labor Statistics (BLS) as scheduled on Friday, which caused data watchers to focus on privat…
America saw 'essentially no job growth' last month, warns Moody's, and any roles added were in three wealthy states
With official labor data suspended by the government shutdown, analysts are leaning on private sources—and they show a weakening jobs market. Moody’s Mark Zandi said September saw “essentially no job growth,” with gains limited to healthcare, education, and a few large states, while ADP reported payroll losses and Glassdoor noted slowing wage growth. Economists warn that without Bureau of Labor Statistics releases, the Fed is left making policy …
Mark Zandi, chief economist at Moody’s Analytics, posted on social media platform X on Sunday (October 5) that data showed the U.S. job market was "weak and continuing to deteriorate," and the future was not optimistic.
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