U.S. companies shed 32,000 jobs in September in latest sign of labor market weakness

U.S. companies shed 32,000 jobs in September, according to the payroll processing company ADP, a surprising decline that adds to growing concerns about the rapidly weakening labor market

U.S. companies shed 32,000 jobs in September, according to the payroll processing company ADP, a surprising decline that adds to growing concerns about the rapidly weakening labor market.

ADP, which released its monthly private sector employment report Wednesday, was expected by Wall Street to report job growth of 45,000 in the month.

The weak labor report comes after some recent economic data — gross domestic product and unemployment claims — offered a slightly more positive outlook for the U.S. economy.

“Despite the strong economic growth we saw in the second quarter, this month's release further validates what we've been seeing in the labor market, that U.S. employers have been cautious with hiring," ADP chief economist Nela Richardson said.

ADP may be the only jobs data reported this week. The government shutdown, which began Wednesday, means that the Bureau of Labor Statistics is closed and unable to publish the official government jobs report Friday.