Private payrolls fell by 32,000 in September 2025, as momentum across the labor market slowed considerably.
ADP noted on Wednesday (October 1, 2025) that the recent downward revisions by the US federal government to benchmark data had been responsible for much of the significant drop.
Also, without the recount, payroll growth this past month was still quite modest, the payroll processor revealed.
Wage growth for those professionals who may have changed jobs also declined to an annual 6.6%, which is reportedly the lowest in the past year.
The Labor Department‘s nonfarm payrolls report for last month will now be delayed because of the government shutdown.
With the US government shutdown now expected to delay the Labor Department’s release of the jobs report from the past month, US residents are now “groping in the dark for signals about the economy,” Bloomberg reported.
Should the current government shutdown continue longer, then key inflation reports could get delayed.
And the absence of such important data on jobs as well as prices could exacerbate economic uncertainty during a time when the Federal Reserve is being increasingly critical of these pressing trends.
Notably, futures markets have priced in a 100% chance of an interest-rate cut at this upcoming Fed policy meeting this month.
It’s worth noting that several federal offices were closed yesterday as the US government entered the first day of a shutdown. The last time there was an extended shutdown in the US was during the 2018-2019 calendar year.
And now again the Congress failed to bring forward legislation to fund the government for the next seven-week period.
Although federal workers considered essential have stayed on the job, an extended shutdown might see around 750,000 workers get furloughed at a cost of about $400 million each day in overall lost compensation, according to Bloomberg.
And now, Friday’s September jobs report may also get delayed.
In such an uncertain environment, the gold bullion achieved a record high on Wednesday as investors seemed to look for safe-haven assets. Other commodities and precious metals like Silver have been hitting all-time highs as well.
Interestingly, Bitcoin, the flagship cryptocurrency, has also been trading higher along with other crypto-assets like Ethereum, Solana, and BNB coin.
Normally, Bitcoin trades like a sort of risk asset and more like a tech stock but this has not been the case this time around. Meanwhile, Strategy‘s MSTR stock has also been trading higher.