ADP ANNOUNCES IT WILL RELEASE WEEKLY EMPLOYMENT DATA FOLLOWING WARREN PUSH AFTER COMPANY TERMINATED DATA SHARING AGREEMENT WITH FED

The following information was released by the U.S. Senate Committee on Banking, Housing, and Urban Affairs:

"At a time when the U.S. economy faces heightened uncertainty, timely economic data could not be more critical."

"Without monthly BLS jobs numbers, the Fed depends increasingly on alternative data sources, including ADP. At a time when the Fed's decisions carry heightened risk for American families, access to accurate and timely data is especially critical."

Yesterday, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, wrote to Maria Black, President and CEO of Automatic Data Processing (ADP), urging the company to make its weekly employment data publicly available. Ranking Member Warren's letter followed numerous reports that ADP has terminated a longstanding agreement to share weekly employment data with the Fed amid a government shutdown. This morning, ADP announced that it would now make proprietary weekly employment data available to the public.

The Ranking Member responded to the ADP news: "This is a bad time for the Fed to be flying blind, and it's good news that the ADP will make this important employment information publicly available while the Trump Administration refuses to release the jobs data."

In her letter to ADP, Ranking Member Warren wrote that, "The Trump Administration has refused to publish the Bureau of Labor Statistics' (BLS) September jobs report despite it being collected and processed, and it appears to be increasingly unlikely that the October jobs data will be collected and processed in time for its scheduled November 7 release," wrote Ranking Member Warren. "This data gap persists as the Fed meets today and tomorrow to set interest rates, with another meeting scheduled for early December. At a time when the U.S. economy faces heightened uncertainty, timely economic data could not be more critical."

The Ranking Member raised concerns on how the lack of updated jobs numbers would prevent the Fed from making informed decisions on interest rates:"Without federal economic data, the Fed is 'flying blind' amid unprecedented economic uncertainty. Fed Chair Powell has stated explicitly that the FOMC is currently 'in a meeting-by-meeting situation' and heavily reliant on monthly data, and that there is no 'risk-free path' forward meaning any misstep could have serious consequences for the U.S. economy and American households."

The Ranking Member concluded by requesting details on the ADP's decision to stop sharing employment data with the Fed and their ability to publish weekly employment data publicly no later than November 7, 2025.