Private Sector Hiring Cools for Fifth Consecutive Week

The latest figures show a steady deceleration from earlier in the summer, when weekly job additions peaked near 40,750 in early May. By mid-June, the four-week moving average sat at 24,250, but it has since continued to slide to the current level of 15,000. These preliminary estimates rely on high-frequency payroll data processed by ADP Research in collaboration with the Stanford Digital Economy Lab.

Because the NER Pulse utilizes a four-week moving average with a two-week lag, these figures are designed to smooth out short-term volatility and provide a clearer picture of real-time employment shifts. While the current trajectory suggests a cooling labor market, ADP notes that these estimates remain subject to revision as more comprehensive payroll information becomes available. The next update is scheduled for release on August 11, 2026.