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ADP Reports Drop in November Private Payrolls Amid Tariff Policy Debate

Commerce Secretary Howard Lutnick says Trump administration tariffs are not responsible for the decline, responding to ADP employment data.

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Terms & Concepts
  • Private payrolls: Employment figures representing the number of paid workers in private sector businesses, excluding government employees.
  • Tariffs: Taxes imposed on imported goods, often used as a trade policy tool to protect domestic industries.