US ADP Weekly Payrolls Slow to 16,750 for Week Ending October 10

ADP's weekly employment measure showed the US economy added 16,750 jobs in the week ending October 10, down from 18,500 the prior week. Annualizing the four-week average of roughly 16,750 per week points to an underlying monthly jobs pace of approximately 70,000, a figure notably softer than the broader labor market benchmarks tracked by the monthly nonfarm payrolls report.