www.foxbusiness.com
ADP reported a loss of 32,000 private sector jobs in November, falling short of economists’ expectations. Small businesses led the decline, shedding 120,000 positions. Larger companies, however, saw gains. While education, health services, leisure, and hospitality sectors added jobs, professional services, information, and manufacturing experienced losses. Wage growth also slowed. Experts attribute the “start-to-fire” job market to cautious consumers and economic uncertainty, particularly impacting smaller firms. The Labor Department’s November employment report, delayed due to the government shutdown, will be released December 16, but October’s unemployment rate will not be available.
