ADP Says US Payrolls in Nov. Fell by 32,000

Employment Data Analysis - ADP employment data indicates a negative outlook on the US economy, with a decline of 32,000 jobs [1] - Economists anticipated the creation of 10,000 jobs, contrasting sharply with the reported decrease [1][2] - Previous week's data was revised upwards to 47,000 jobs created, compared to the initially reported 42,000 jobs [1] - The 83 employment change doesn't always align with non-farm payrolls data [1] Labor Market Trends - The labor market is showing signs of softening, transitioning from low hiring and firing rates [3] - Major companies like Verizon and Apple have announced staff cuts or layoffs in recent weeks [3] - The ADP data carries significant weight due to the absence of official data from the BLS [3] - The decline of 32,000 jobs represents the lowest level in the ADP series since March 31, 2023 [4] Implications for Monetary Policy - This ADP data is the last jobs market update before the next Federal Reserve meeting [4] - The data suggests a continued softening of the employment market [4]