TD Cowen Adjusts Automatic Data Processing Price Target to $265 From $283, Maintains Hold Rating

U.S. private employers added an average of 23,750 jobs weekly for the four weeks ending September 19, according to ADP's data. This marks the fifth consecutive week of hiring acceleration. ADP processes payroll for over 1.1 million clients and releases weekly employment data.

U.S. private employers added 23,750 jobs weekly in September 2026, according to ADP's preliminary NER Pulse report. This marks the fifth week of accelerated hiring. The data is seasonally adjusted and subject to change. ADP, a global HR and payroll solutions provider, produces the report in collaboration with the Stanford Digital Economy Lab.

Gold prices faced pressure after ADP reported 90,000 private-sector jobs added in September, exceeding expectations of 73,000. The data suggests a resilient labor market, which may deter the Federal Reserve from easing inflation efforts. Spot gold traded at $4,184.40 an ounce, with analysts noting significant labor market weakness may be needed for a rally above $4,300.

US private payrolls grew by 90,000 jobs in September, exceeding expectations of 70,000, according to ADP. August's figure was revised down to 36,000. The BLS reports 1.01 open jobs per unemployed person in August. Economists expect BLS to report 85,000 private payrolls added in September, with nonfarm payrolls at 90,000 and unemployment steady at 4.1%.

Private-sector employment rose by 90,000 jobs in September, according to ADP. Base pay increased 3.2% and gross pay 4.7% year-over-year. Job-stayers saw 3.0% base pay growth, while job-changers had 4.8%. ADP's report is based on payroll data of 26 million U.S. workers.

Aeroports de Paris (ADP) shares dropped 4.4% before recovering to a 1.1% loss after France proposed raising the TEITLD tax on transport infrastructure to 12.2% from 4.6%, aiming to generate €800M more annually. The tax impacts airport operators more than motorway companies, as airports can pass costs to customers. The revenue will fund transport infrastructure maintenance and modernization.