ADP Private Payroll Report Exceeds Expectations, Denver Tops Hot Labor Market List

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ADP Payroll,Jobs Report,Labor Market

The ADP private payroll report for September surpassed economist expectations, adding 143,000 jobs to the private sector compared to an estimated 125,000. ADP Chief Economist Nela Richardson highlights the localized nature of job markets and identifies Denver as the hottest labor market based on factors like pay growth, new hire wages, and hiring rates. Other top markets include Seattle, Portland, and New Orleans.

ADP's private payroll report exceeded economist expectations for September, showing 143,000 jobs added in the private sector versus the estimated 125,000. ADP Chief Economist Nela Richardson joins Wealth! toRichardson emphasizes that job markets are"localized" and vary significantly by city. Based on metrics including new hire wages, pay growth, and hiring rates, Denver, Colorado, emerged as the hottest labor market, boasting"the fastest growth rate.

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