ADP Weekly Report: For the four weeks ending November 1, American companies laid off an average of about 2,500 workers per week.

According to BlockBeats news on November 18, data released by ADP Research on Tuesday indicates that in the four weeks ending November 1, U.S. companies laid off an average of about 2,500 employees per week. This suggests that the labor market lost some momentum in late October. The monthly employment report released on November 5 showed that private sector employment increased by 42,000, following two consecutive months of decline. The U.S. Bureau of Labor Statistics will release the September employment report on Thursday, with the expectation that total employment in the U.S. will increase by 55,000 from the previous month. Before the weekly data release from ADP, several large companies had already announced layoffs for the month, including Amazon and Target. According to a report by Challenger, the number of planned layoffs in October this year was the highest in over twenty years. (Jin10)