ADP Weekly Report: For the four weeks ending on November 1st, U.S. businesses have been averaging approximately 2,500 weekly layoffs.

On November 18th, according to the data disclosed by ADP Research on Tuesday. As of the four weeks ending on November 1st, U.S. companies have been dismissing an average of approximately 2,500 employees each week. This shows that the labor market lost a certain amount of momentum in late October. The monthly employment report released on November 5th indicated that private sector employment grew by 42,000 people, following two consecutive months of decline. The U.S. Bureau of Labor Statistics will release the employment report for September on Thursday. It is expected that U.S. total employment will increase by 55,000 people compared to the previous month. Prior to the release of ADP's weekly data, several large companies had already announced layoffs for the month, such as Amazon and Target. According to a report from Challenger, the number of planned layoffs in October this year is the highest in more than twenty years. (Jinshi)