The figures, which utilize a four-week moving average, reflect a consistent downward trend compared to late June, when weekly job additions stood at 19,250. This cooling marks a significant shift from early May, when the moving average reached as high as 40,750. The data, produced in collaboration with the Stanford Digital Economy Lab, incorporates a two-week lag to improve accuracy in measuring real-time employment shifts.

These preliminary estimates are based on high-frequency payroll data from ADP. While the current average of 16,500 jobs per week provides a window into current momentum, the numbers remain subject to revision as more comprehensive payroll information is integrated. The weekly series serves as a high-frequency complement to the monthly ADP National Employment Report, which remains a primary reference for tracking labor market health.