Washington: The US private sector shed 32,000 jobs in November, payroll firm ADP said Wednesday, surprising markets that had forecast net growth in employment.
According to Bangladesh Sangbad Sangstha, ADP chief economist Nela Richardson mentioned that hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment.
Richardson further explained that November's slowdown was broad-based and was led by a pullback among small businesses. The unexpected job losses indicate challenges within the private sector, reflecting broader economic uncertainties.