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ROSELAND, N.J. - U.S. private employers shed an average of 13,500 jobs per week for the four weeks ending November 8, according to the latest NER Pulse report released Tuesday by ADP Research.
The NER Pulse, a weekly update of the monthly ADP National Employment Report, provides preliminary estimates of week-over-week changes in U.S. employment based on a four-week moving average. The data is seasonally adjusted and released with a two-week lag.
This marks a notable shift in the labor market as employers reduced their workforce heading into the holiday season. The report does not specify which sectors experienced the most significant job losses.
ADP Research produces the employment data in collaboration with the Stanford Digital Economy Lab. The company notes that these preliminary figures could change as new data becomes available.
The NER Pulse is published every Tuesday at 8:15 a.m. ET, except during weeks when the monthly ADP National Employment Report is released. Historical data covering the previous 12 weeks is made available on the company’s Main Street Macro platform.
ADP (NASDAQ:ADP) serves as a major provider of HR and payroll solutions, with more than 1.1 million clients across over 140 countries.
The information in this article is based on a press release statement from ADP Research.
In other recent news, ADP reported impressive first-quarter fiscal 2025 results, with revenue growing by 6% at constant currency and earnings per share increasing by 7% year-over-year. Additionally, ADP delivered a revenue growth of 7.1%, surpassing Street expectations of 6.2%, while earnings per share grew by 6.7%, exceeding forecasts of 4.4%. The company also announced a 10% increase in its quarterly cash dividend to $1.70 per share, marking the 51st consecutive year of dividend hikes. In a strategic move, ADP integrated its WorkForce Suite into its main platforms, following its acquisition of WorkForce Software in 2024.
However, not all news was positive, as TD Cowen, Stifel, and Jefferies lowered their price targets for ADP to $263, $290, and $245, respectively, while maintaining a Hold rating on the stock. TD Cowen’s adjustment followed ADP’s earnings report, prompting a revision of their financial projections. Stifel’s price target reduction came despite ADP’s better-than-expected earnings, citing a flat employment outlook. Jefferies also cited a mixed outlook as the reason for its lowered price target. These recent developments provide investors with a comprehensive view of ADP’s current financial and strategic position.
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