ADP: American companies laid off 2,500 employees weekly before the end of October

According to data released by the ADP Research Institute on Tuesday, U.S. companies laid off an average of 2,500 workers per week in the four weeks ending November 1. This decline indicates that the labor market lost momentum in late October. The monthly employment report released by ADP on November 5 showed that private sector employment increased by 42,000 after declining for two consecutive months. Although funding for official statistical agencies has been restored, it is still unclear when the economic data for October will be released