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Tag: Payrolls

U.S. private payrolls accelerate in September; many challenges loom

September 30, 2020
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| business

By Lucia Mutikani

WASHINGTON (Reuters) – U.S. private employers stepped up hiring in September, but diminishing government financial assistance and a resurgence in new COVID-19 cases in some parts of the country could slow the labor market’s recovery from the pandemic.

Other data on Wednesday confirmed that the economy suffered its sharpest contraction in at least 73 years in the second quarter because of the disruptions from the coronavirus. Record growth is predicted in the third quarter, buoyed by fiscal stimulus and the resumption of many business operations.

But without another rescue package, rising coronavirus infections and political uncertainty that could extend beyond the Nov. 3 presidential election, gross domestic product estimates for the fourth quarter are being slashed.

“With economic momentum cooling, fiscal stimulus expiring, flu season approaching and election uncertainty rising, the main question is how strong the labor market will be going into the fourth quarter,” said

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U.S. Private Payrolls Increase More Than Expected in September | Investing News

September 30, 2020
| No Comments
| business

WASHINGTON (Reuters) – U.S. private employers stepped up hiring in September, but diminishing government financial assistance and a resurgence in new COVID-19 cases in some parts of the country could slow the labor market’s recovery from the pandemic.

Private payrolls increased by 749,000 jobs this month, the ADP National Employment Report showed on Wednesday. Data for August was revised up to show 481,000 jobs added instead of the initially reported 428,000. Economists polled by Reuters had forecast private payrolls would rise by 650,000 in September.

The ADP report is jointly developed with Moody’s Analytics. Though it has fallen short of the government’s private payrolls count since May because of methodology differences, it is still watched for clues on the labor market’s health.

The ADP report is based on active and paid employees on company payrolls. The Labor Department’s Bureau of Labor Statistics (BLS) counts workers as employed if they received

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