Private payroll losses accelerated in the past four weeks, ADP reports

[Wiz Imp]

7. Note this is not the normal monthly ADP report

This is something new called NER Pulse, a 4-week tracker released weekly which they began on October 28.

https://www.adpresearch.com/meeting-the-moment-adps-new-weekly-labor-market-pulse/

Today, we make good on that goal with the launch of the weekly NER pulse.

Like the debut of the NER, the launch of NER pulse is meeting a critical moment in the economy, which is being transformed by AI, demographic change, and short-term business cycle fluctuations. The NER pulse of private-sector hiring will provide a dynamic and granular view of job creation and loss at an unprecedented weekly frequency.

Three times a month, Main Street Macro will release preliminary estimates of the week-over-week change in employment based on a four-week moving average. These releases will have a two-week time lag to allow for more complete and accurate estimates of real-time employment trends.

We will continue to publish the final National Employment Report each month. This monthly report is built on a reference week that includes the 12th day of the month and typically publishes on the first Wednesday of the month. It provides breakdowns by industry, geography, and employer size, both seasonally and non-seasonally adjusted. We won’t publish the NER pulse during NER release weeks.

The release today is for the 4 weeks ending November 8. Extrapolating data from the previous report, it implies job losses for the week ending November 8 were likely significantly more than the 4-week average of -13,500..