Bloomberg Surveillance Bloomberg Surveillance TV: October 2nd, 2025
7 snips
Oct 2, 2025 Nela Richardson, Chief Economist at ADP, discusses the impact of a U.S. government shutdown on employment and the labor market. John Stoltzfus, Chief Investment Strategist at Oppenheimer, analyzes equity markets, noting resilience despite the shutdown and generational valuation differences among investors. Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods, highlights the tech sector's robust performance driven by OpenAI’s soaring valuation, while also addressing inflation concerns amid growth stimulus. Tune in for insights on market dynamics and strategic investment considerations!
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Hiring Momentum Has Clearly Slowed
- ADP shows a clear slowdown in hiring momentum since January, validated by benchmarking to state UI data.
- The labor market has weak hiring flows despite a strong stock of employment and low layoffs.
Watch Shutdown Spillovers Closely
- Monitor the shutdown duration because private contractors and downstream services will feel immediate impacts.
- Watch private-sector hiring and consumer spending for spillovers if the shutdown extends.
Upskill Workers When Hiring Slows
- If firms can't add headcount, invest in upskilling and engagement to lift productivity from existing employees.
- Employers are focusing on training and engagement to get more value from current workers.