US private payrolls decline in November as small businesses shed jobs
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Source: Reuters
U.S. private payrolls unexpectedly declined in November as small businesses shed jobs, but the weakness is probably not a true reflection of the labor market's health, with recent government data showing layoffs remaining at low levels late last month.
Economists also cautioned against reading too much into the ADP employment report published on Wednesday, arguing its monthly estimate has historically diverged from the government's private payrolls count produced by the Labor Department's Bureau of Labor Statistics.
[....]
Private employment decreased by 32,000 jobs last month after an upwardly revised 47,000 increase in October, the ADP report showed. Economists polled by Reuters had forecast private employment rising by 10,000 jobs after a previously reported 42,000 rebound in October.
Small establishments lost 120,000 jobs last month, which some economists attributed to tariffs on imports that have raised costs for businesses. Payrolls at medium enterprises increased 51,000 while those at large businesses rose 39,000.
Read more: https://www.reuters.com/business/us-private-payrolls-unexpectedly-decrease-november-adp-says-2025-12-03/
BLS will be releasing the official government numbers on December 16th, and of course we'll all have total faith in those
. (For anyone who doesn't remember, tRump fired the previous head of BLS for daring to release a report which contained unflattering data.)
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