(NewsNation) — With official data on hold due to the government shutdown, economists are turning to private reports, and the early signs, according to Moody's, aren't good.

"This data shows that the job market is weak and getting weaker," Moody's analytics chief economist, Mark Zandi, wrote Sunday.

Zandi pointed to two separate private reports — from ADP and Revelio Labs — which, when averaged together, suggest there was "essentially no job growth" last month.

The monthly jobs report from payroll-processing firm ADP showed the U.S. shed 32,000 private-sector jobs in September.

However, that likely "understates the decline," Zandi noted, since "government employment surely also fell in the month given the ongoing DOGE-related cuts."

ADP's report highlighted a familiar story: The few jo

See Full Page