US private payrolls fall sharply in November – ADP

The ADP employment report showed that US private payrolls unexpectedly fell by 32K in November, compared to upwardly revised 47K (from 42K) previous month and consensus for 5K rise.

The latest report added to growing concerns about labor market conditions, hurt by negative impact from tariffs that also sparked uncertainty across the world’s largest economy.

Markets await further information from the sector from more significant non-farm payrolls report, which will include reports for October and November and due to be released on December 16 (delayed from initially scheduled on December 5).

However, unemployment report for October will not be released, as relevant data from which the unemployment rate is calculated were not collected due to historically longest US government shutdown.

The latest NFP report showed that the US economy added 119K jobs in September, while the unemployment rate rose to 4.4%, the highest since 2021.