From the latest release:
Figure 1: Private NFP from CES (blue), implied benchmark revision private NFP (light blue), from ADP (tan), in logs 2025M01=0. Source: BLS, ADP via FRED, BLS, and author’s calculations.
Note the September (as well as August) BLS numbers will be revised as a matter of course, so the recent trajectory may well change. ADP numbers are also revised, but to a smaller extent.
