U.S. Private Payrolls Drop 32,000 in November, Signaling Economic Softening
TL;DR Summary
In November, U.S. private payrolls unexpectedly declined by 32,000, primarily due to significant job cuts in small businesses, signaling a slowdown in the labor market. Larger firms added jobs, but the overall decrease was the largest since March 2023, raising concerns ahead of the Federal Reserve's upcoming rate decision.
- November private payrolls unexpectedly fell by 32,000, led by steep small business job cuts, ADP reports CNBC
- ADP National Employment Report: Private Sector Employment Shed 32,000 Jobs in November; Annual Pay was Up 4.4% PR Newswire
- A first look at hiring in November shows 32,000 jobs were lost in the private sector CNN
- ADP says U.S. economy loses jobs for third time in four months. Fed to weigh weak labor market in rate-cut vote. MarketWatch
- ADP Jobs Report Shows Surprise Drop In Private Payrolls; S&P 500 Futures Rise Investor's Business Daily
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