The ADP jobs report revealed Wednesday that 135,000 private-sector jobs were added to the U.S. economy in September, showing that hiring continues to slow down among private businesses.

"The job market has shown signs of a slowdown," said Ahu Yildermaz, vice president and co-head of the ADP Research Institute. "The average monthly job growth for the last three months is 145,000, down from 214,000 for the same period last year."

Moody's Analytics chief economist Mark Zandi warned that if businesses pull back any further in hiring, "unemployment will rise."

ADP also revised its figure for new jobs created in August down to 157,000 from an original estimate of 195,000.

ADP is the largest processor of paychecks in the country for companies and workers. The organization uses that payroll information to compile its job reports.

The economy has shown other warning signs this week. The Institute For Supply Management (ISM) manufacturing index, an indicator of the strength of the manufacturing sector, showed its worst reading in a decade on Tuesday.

President Trump has blamed Federal Reserve Chairman Jerome Powell for the poor manufacturing figure on Tuesday, calling the Fed "pathetic" and that "they don't have a clue." Some analysts have blamed Trump's ongoing trade war with China for the poor manufacturing reading.

On Aug. 14, an inverted yield curve in the bond market also panicked investors that a recession could be on the way, causing the Dow to drop over 800 points.