Payrolls at U.S. businesses shrank by 32,000 jobs in November, according to payroll processor ADP, highlighting concerns about the health of the labor market. This was the largest monthly job loss since early 2023, according to ADP data. “Hiring has
Much worse than expected.
ADP report shows hiring momentum slowing as leisure sector drives modest job gains.
A strong report overall still showed signs of weakness in manufacturing.
Employers added 122,000 jobs last month on a seasonally adjusted basis, down from 146,000 in November and well below the 134,000 forecast by economists surveyed by Econoday.
Payroll processing company ADP estimates that hiring slowed significantly in August.
Businesses in the U.S. added 184,000 workers to their payrolls in March, the largest increase in hiring since July, according to payroll processor ADP. The March hiring exceeded even the most optimistic forecasts. The median forecast was for 155,000 jobs,
The ADP report said private payrolls grew by 164,000 workers last month, the biggest rise since August.
Businesses added just 103,000 workers to their payrolls in November, the paycheck processor ADP said Wednesday.
Could demand for labor in the U.S. finally be cooling?
Private sector payrolls grew by 324,000 in July, led by a huge jump in jobs at hotels, bars, and restaurants, payroll processor ADP said.
A second consecutive month of strong job growth. What will Friday’s nonfarm payrolls bring?
This is not the sort of jobs report you would expect if the economy was teetering on the edge of a recession.
