US labour market stumbles in November: Small businesses lead sharp job losses, raising red flags for economy
The latest ADP data show the US labor market unexpectedly contracting in November, with private payrolls falling by 32,000 instead of the projected 40,000 gain. Small businesses suffered the heaviest blow, cutting 120,000 jobs—an alarming signal economists view as an early warning of wider economic strain. Sectoral declines and uneven hiring deepen concerns ahead of the Federal Reserve’s December meeting.
The latest ADP data show the US labor market unexpectedly contracting in November, with private payrolls falling by 32,000 instead of the projected 40,000 gain. Small businesses suffered the heaviest blow, cutting 120,000 jobs—an alarming signal economists view as an early warning of wider economic strain. Sectoral declines and uneven hiring deepen concerns ahead of the Federal Reserve’s December meeting.
