TechFlow, October 29 — Market analyst Giuseppe said that yesterday the U.S. Automatic Data Processing (ADP) released four-week U.S. employment data ending October 11, 2025, showing an average weekly increase of 14,250 jobs, implying approximately 57,000 jobs added over those four weeks. The Dallas Fed estimated in early October that the current breakeven point was about 30,000 jobs per month, and 57,000 is well above this level. Due to the lack of government data, the ADP report indicates a strong rebound signal, which could make Federal Reserve Chair Powell more cautious when hinting at a December rate cut. If so, this would be seen as a hawkish surprise and significantly impact markets. Additionally, Waller, one of the most dovish members of the Federal Reserve Board and a potential candidate for Fed chair, previously stated that ADP data was among the reasons supporting his case for rate cuts. Recently, he said: "I still believe we should cut rates, but we need to remain cautious." (Jinshi)
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