ADP’s latest jobs report shows a U.S. economy that’s taking one step forward and one step back. According to the report released Wednesday morning — which, per ADP, is “an independent measure of the labor market based on the anonymized weekly payroll data of more than 26 million private-sector employees in the United States” — employers added 42,000 jobs in October. Annual pay was up 4.5%, unchanged from September. On the surface, that could look like a rebound after two months of negative job growth. Bu ...

Amid a busy few weeks for restaurant earnings, new data is emerging that suggests a restaurant recession could be underway. The pullback is most marked among the young customers who have long propped up the boom in “fast-casual” restaurants — chains built on recognizable ingredients, counter service, and prices roughly 50% higher than fast food. Shares of Chipotle fell some 5% last week after the chain's earnings report showed that margins fell and comparable-store sales growth appeared barely positive. S ...