The ADP National Employment Report revealed that hiring by US private employers slowed further last month.
Experts believe this is a sign that shows the way trade tension between China and the United States is spilling over the labor market, considering how it has affected manufacturing.
On Wednesday, the ADP National Employment Report also revealed that private payrolls growth in August wasnât as strong as economists estimated, and pointed out that âbusinesses have turned more cautious in their hiring,â with small enterprises becoming âespecially hesitant.â
The report detailed that private employers added 135,000 jobs in September while it managed to add 157,000 jobs in August.
According to CNNâs Richard Quest, the economyâs negative outlook was also underscored by a Tuesday survey that showed how manufacturing activity tumbled to a more than a 10-year low last month.
Quest also pointed out that most economists agree that the longest economic expansion on record, which is now in its 11th year, is getting weaker because of the 15-months trade war between the Chinese regime and the Trump administration.
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