US private employers unexpectedly shed 32,000 jobs in September, below economist expectations of 51,000 added jobs. August private payrolls revised lower to a loss of 3,000. ADP chief economist cites caution in hiring despite strong economic growth.

Small- and medium-size businesses saw a drop in private payrolls in September, while companies employing over 500 added 33,000 positions. Service-providing companies, including leisure and hospitality, suffered with 28,000 job declines. Pay gains for job-changers slipped to 6.6% from 7.1%.

US jobs report for September likely delayed due to government shutdown. Recent data shows a stasis in the job market with a dramatic slowdown in new job creation. Unemployment rate hit 4.3% in August, the highest since October 2021. Employers hesitant to hire in uncertain economy.

Read more at Yahoo Finance: Private employers unexpectedly shed 32,000 jobs as labor market continues pullback