Private sector adds more jobs than expected in September
The private sector added more than 135,000 jobs in September, surpassing expectations of 125,000, according to a report released Wednesday by ADP and Moody's Analytics.
Why it matters: The numbers come "amid growing concerns over the strength" of the job market, which has seen hiring slow significantly in 2019, per CNBC. The year's current monthly average for private sector hiring is now 145,000 — down sharply from 214,000 for the same time period last year.
- What they're saying: Mark Zandi, a chief economist at Moody's, said, "Businesses have turned more cautious in their hiring. Small businesses have become especially hesitant. If businesses pull back any further, unemployment will begin to rise."
Go deeper: The results from last month's jobs report