Overall, the jobs report was strong, highlighting the economy's resilience despite various challenges, such as rising interest rates, labor strikes, the resumption of student loan payments, and uncertainty in Washington. ADP Employment Report Private sector hiring continued to slow in September, a possible indication that the Fed’s interest rate hikes are starting to take effect on the labor market. The slowing growth in both private sector pay and job numbers serves as a positive signal for the Federal Reserve, suggesting that inflationary pressures, such as wage gains, are easing.