Name: November private payrolls unexpectedly fell by 32,000
Uploaded: 2025-12-05T07:57:05+00:00
Duration: 1 min 14 s
Description: The U.S. labor market weakened in November as private payrolls fell by 32,000, driven largely by small businesses, according to ADP. Firms with fewer than 50 employees cut 120,000 jobs, while larger c

9 days ago

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The U.S. labor market weakened in November as private payrolls fell by 32,000, driven largely by small businesses, according to ADP.

Firms with fewer than 50 employees cut 120,000 jobs, while larger companies added 90,000.

Industry losses were led by professional and business services (-26,000), information services (-20,000), and manufacturing (-18,000), though education and health services (+33,000) and leisure and hospitality (+13,000) saw gains.

Wage growth slowed to 4.4% year-over-year, CNBC has reported.

ADP’s report, the last ahead of the Federal Reserve’s Dec. 9-10 meeting, suggests ongoing labor market softness, though futures markets still price in a high likelihood of a 0.25 percentage point rate cut.

The official November jobs report from the Bureau of Labor Statistics is due Dec. 16.

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