ADP Weekly Report: In the four weeks ending November 1, U.S. companies laid off an average of about 2,500 employees per week

BlockBeats News, November 18, according to data released by ADP Research on Tuesday, in the four weeks ending November 1, U.S. companies laid off an average of about 2,500 employees per week. This indicates that the labor market lost some momentum in late October.

The monthly employment report released on November 5 showed that private sector employment increased by 42,000, following two consecutive months of decline.

The U.S. Bureau of Labor Statistics will release the September employment report on Thursday, with total U.S. employment expected to increase by 55,000 compared to the previous month. Before the release of ADP's weekly data, several major companies had already announced layoffs for the month, including Amazon and Target. According to a report by Challenger, the number of planned layoffs in October this year was the highest in more than two decades. (Golden Ten Data)