U.S. Private Employers Cut Jobs in Nov., ADP Reports
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Economists had been expecting to see a slight overall gain in jobs. The data reflects a difficult business environment for smaller employers.
Employers cut 32,000 jobs in November as small businesses pulled back on their hiring plans, private payroll ADP said on Wednesday. Firms with fewer than 50 employees reduced their payrolls by 120,000, while those with 50 to 500 workers added 90,000 jobs.
US private employers lost 32,000 positions in November, with job creation seemingly locked in a standstill, according to the private payroll processor ADP.