WASHINGTON (Oct 5): Companies in September added the fewest number of workers in five months, showing the labor market is cooling after strong gains for much of this year, data from the ADP Research Institute in Roseland, New Jersey, showed Wednesday. Key PointsPrivate payrolls increased by 154,000 (forecast was 165,000) after a revised 175,000 gain in August. Hiring managers might be having some trouble finding skilled workers to fill vacancies, helping explain the cooling in payroll gains even as the labor market remains healthy. Unless job figures are a major disappointment, a measured slowdown would probably affirm Federal Reserve officials’ projections and keep them on pace to raise the benchmark interest rate before year’s end. “With job openings at all-time highs and layoffs near all-time lows, the job market remains in full swing.”The Details

Source: The Edge Markets October 05, 2016 14:26 UTC