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Benzinga
Benzinga
Business
Piero Cingari

Job Market Suddenly Slips In November, Locking In Expectations For Another Fed Cut

US Federal Reserve ADP
jobs ai2

U.S. private employers unexpectedly cut jobs in November, signaling fresh weakness in the labor market and reinforcing expectations for another Federal Reserve rate cut next week.

Private payrolls fell by 32,000, according to ADP's National Employment Report released Wednesday. It's a sharp reversal from the 42,000 jobs added in October and well below economists' expectations for a modest 5,000 gain.

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