[Federal Reserve Loses Access to ADP Employment Data] October 23 news: Federal Reserve officials have recently lost access to employment data provided by payroll processing company ADP. Since 2018, ADP has been providing the Federal Reserve with anonymous employment and income information, covering 20% of the U.S. private sector workforce, serving as an important reference for assessing the state of the labor market. However, after Federal Reserve Governor Waller cited ADP data in a speech at the end of August, ADP ceased providing the data, with the specific reason remaining unclear. In his speech, Waller mentioned the deterioration of summer hiring conditions and further expressed concerns about the slowdown in the labor market.