ADP: Small business drive large 32K private payroll drop in November
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 ...

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