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The federal government shutdown canceled a second straight jobs report, but private data sources suggest the labor market has weakened modestly since summer. According to the latest data, the private sector lost 32,000 jobs last month, following a loss of 3,000 in august Layoffs are soaring, hiring is collapsing, and artificial.

While less comprehensive and more volatile than official government releases, they collectively reinforce the view that the labor market is cooling, not collapsing,” first american senior. In october 2024, private employers added 184,000 jobs, per adp Job seekers are applying for slightly fewer roles (applications per person fell 2%), hinting that most workers still feel relatively secure

Overall, the data paints a picture of a job market that’s cooling but not collapsing

Growth has slowed to its “breakeven” pace, where employment just keeps up with labor force growth.

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