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ADP: Small business drive large 32K private payroll drop in November Published: Dec. 3, 2025 at 10:23 AM  By Chris Benson, UPI  ADP said Wednesday that small businesses and private companies were hit hardest in November by a slowdown in the U.S. labor market.  The private payroll processor's monthly employment report indicated some 32,000 were shed by private employers. It said job creation had been "flat" during the second half of this year with pay growth on a "downward" trend.   "Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment," said ADP chief economist Nela Richardson. "And while November's slowdown was broad-based, it was led by a pullback among small businesses," Richardson said in a statement.   It marked a sharp decline from October with a revised 47,000 job gain, and arrived under Wall Street estimates of a near 40,000 increase. Bigger businesses with 50 or more ...

    ADP Report Shows Sharp November Slowdown as Small Businesses Shed 120,000 Jobs By Chris Benson, UPI Dec. 3, 2025 The U.S. labor market hit an unmistakable soft patch in November, according to new data released Wednesday by ADP, which reported that private-sector employers collectively cut 32,000 jobs — with small businesses bearing the brunt of the decline. The monthly snapshot from the payroll processing giant painted a picture of an economy losing momentum in the final stretch of 2025. ADP noted that hiring has been “flat” since midsummer and wage growth continues to cool as employers confront shakier consumer spending and a macroeconomic outlook clouded by uncertainty. “H iring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment ,” said Nela Richardson, ADP’s chief economist. “ And while November’s slowdown was broad-based, it was led by a pullback among small businesses. ” Small Firms Hit Hardest The overall...