Rising Interest Rates, Slow Job Growth: Is The US Economy Headed For A Downturn? Economists Weigh In
Portfolio Pulse from AJ Fabino
Data from Automatic Data Processing Inc (ADP) shows a decelerating pace of monthly employment growth among private U.S. businesses, marking the third consecutive month of declines. The ADP National Employment Report highlighted that large establishments were leading the deceleration, having lost 83,000 jobs. Economists are concerned about a potential economic slowdown or even a recession, especially for middle-market businesses facing rising real interest rates. The Federal Reserve held steady with interest rates at 5.25%-5.50% in September, hinting at possible hikes.
October 04, 2023 | 6:14 pm
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ADP's data shows a slowing pace of employment growth, which could indicate a potential economic downturn. This could impact ADP's reputation as a reliable source of employment data and potentially affect its stock price.
ADP's data is showing a slowing pace of employment growth, which is a key indicator of economic health. If the economy is headed for a downturn, this could negatively impact ADP's reputation as a reliable source of employment data, and potentially affect its stock price. Investors may lose confidence in the company, leading to a potential decrease in its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100