"The lack of monthly data from the Bureau of Labor Statistics hasn't kept Wall Street completely in the dark on what's happening in the job market as private sources indicate a worsening picture, according Moody's Analytics chief economist Mark Zandi. The government shutdown prevented BLS from issuing its jobs report for September on Friday, putting outsized focus on alternate gauges. Data from Revelio Labs, which scrapes professional networking sites like LinkedIn, show a gain of 60,000 jobs last month, mostly in healthcare and education."
"Meanwhile, ADP's tally of private-sector payrolls found that employers shed a net 32,000 jobs last month, a figure Zandi said understates the decline as it doesn't include public-sector jobs that the Department of Government Efficiency has slashed. He also pointed out most job gains in the ADP report were in healthcare and big companies with over 500 employees. "Smaller companies are getting hit hardest by the tariffs and restrictive immigration policies.""
The Bureau of Labor Statistics did not release the September jobs report due to the government shutdown, shifting focus to private gauges. Revelio Labs' LinkedIn-scraped data showed a 60,000 job gain, mainly in healthcare and education, though that figure has been revised down. ADP reported a 32,000 net decline in private-sector payrolls and omitted recent public-sector job cuts. Most ADP gains were concentrated in healthcare and firms with over 500 employees, while smaller companies face pressure from tariffs and restrictive immigration policies. The Conference Board's jobs-ease gauge fell to its weakest level since early 2021, signaling rising unemployment and little to no September job growth.
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