Anchor Declares ‘Labor Market Is Softening’ After Revised Jobs Report Shows Big Losses

CNBC Anchor Declares ‘Labor Market Is Softening’ After Revised Jobs Report Shows Big Losses
CNBC host Sara Eisen called the latest jobs report “very disappointing” after a round of revisions actually showed losses in the month of August.

On Wednesday morning, ADP announced that private payrolls had decreased by a staggering 32,000 in the month of September. That decreased, as noted in a CNBC report, marked the largest decrease since March 2023. Additionally, a revision to the August payroll revealed a loss of 3,000. It was previously reported that private sector increased payrolls by 54,000 an August — a 57,000-job swing.

The federal government was set to release its own report Friday, but the government shutdown — should it last that long — was expected to delay the release of that report. Although ADP’s applies to just the private sector, Eisen explained why it could spell doom for the government report: