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The ADP employment report revealed a surprising loss of 32,000 private sector jobs in November, primarily driven by small businesses, which shed 120,000 jobs. This decline is attributed to economic uncertainty, cautious consumers, and the impact of fluctuating tariffs. While medium and large businesses added jobs, the overall trend indicates a cooling labor market, particularly affecting smaller firms more sensitive to economic shifts. Experts cite tariffs and broader economic uncertainty as key factors. Contrasting this, the NFIB suggests the labor market remains positive, highlighting small businesses’ ongoing struggle to find qualified workers.
