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U.S. Job Cuts Surge as Fed Eyes Rate Reduction

11/12/2025

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Summary

Story summary

ADP estimates U.S. firms cut over 11,000 jobs weekly in late October, undoing 42,000 October gain.
Nela Richardson, ADP Chief Economist, says the labor market has struggled to sustain job growth.
The data could prompt Federal Reserve policymakers, who cut rates twice this year, to consider further reductions.
Investors expect another rate cut at the Fed meeting on December 9-10.
The ongoing U.S. government shutdown has limited official job statistics.

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Story summary

ADP estimates U.S. firms cut over 11,000 jobs weekly in late October, undoing 42,000 October gain.
Nela Richardson, ADP Chief Economist, says the labor market has struggled to sustain job growth.
The data could prompt Federal Reserve policymakers, who cut rates twice this year, to consider further reductions.
Investors expect another rate cut at the Fed meeting on December 9-10.
The ongoing U.S. government shutdown has limited official job statistics.