Private hiring sank in Nov., ADP says
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The monthly ADP National Employment Report for November is set to be released at 8:15 a.m. Eastern on Wednesday
Privately run businesses eliminated jobs in November for the third time in four months, pointing to a broad slowdown in hiring that threatens to nudge unemployment higher and chip away at the economy.
Private-sector payrolls decreased by 32,000, according to ADP Research data released Wednesday. Payrolls have now fallen four times in the last six months. The median estimate in a Bloomberg survey of economists called for a 10,000 gain.
After Tuesday’s rebound in cryptocurrency stocks, traders await payroll data which is likely to guide the Federal Reserve’s interest rates decision next week.
Wednesday's unexpectedly weak private-sector jobs report from ADP sent Treasury yields lower across the board, led by the rate on th
Stock market today: Dow rises, S&P 500 and Nasdaq under pressure as key ADP jobs data shows weakness
Doubts over AI demand put pressure on tech and a surprise fall in private-sector employment revealed cracks in the job market.