Headline ADP Payrolls Number Comes in Negative

This morning’s big market news comes from the monthly jobs report from Automatic Data Processing (ADP) . Headline private-sector payrolls came in at a negative -32K for November, below expectations for +40K and the prior month’s upwardly revised +47K. This marks the fourth negative month for private-sector payroll growth in the last six.It’s also the first time a 4-month trailing average, at -4K currently, has been negative since the early months of the Covid pandemic in 2020. While the survey saw losses in ...