US Firms Shed 32,000 Jobs in ADP Report After Data Adjustment

Payrolls at US companies unexpectedly dropped in September, due at least in part to issues with data analysis.

Private-sector payrolls decreased by 32,000 after a revised 3,000 decline a month earlier, according to ADP Research data released Wednesday. The figure was below all estimates in a Bloomberg survey of economists.

ADP periodically recalibrates their figures based on an expansive series from the Bureau of Labor Statistics that includes state unemployment insurance tax records and covers nearly all US jobs. The adjustment resulted in a reduction of 43,000 jobs in September compared to pre-benchmarked data, the report said.

While that may ...