ADP Reports November US Private-Sector Job Loss of 32,000
ADP data shows November’s private-sector losses concentrated among small businesses, highlighting worsening labor conditions before the Federal Reserve’s December rate decision.
Summary
ADP reported that U.S. private-sector employment fell by 32,000 in November, with small businesses suffering the largest declines. This marks a sharp reversal from October’s revised gain of 47,000 and came in well below economist forecasts. The downturn occurred across multiple industries and precedes the Federal Reserve’s December interest rate decision.
Terms & Concepts
- ADP employment report: A monthly and weekly labor market update from Automatic Data Processing Inc., detailing changes in private-sector employment in the United States.