Initial claims and an ADP employment report both suggest that the job-market is continuing to soften.
Initial claims came in at 444,000, above the consensus of 420,000 and higher than last week’s reading of 425,000. The ADP employment report for August, meanwhile, showed job losses of 33,000, slightly higher than the 30,000 consensus and down from the 9,000 jobs added in July.
Graph courtesy Briefing.com
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