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Story summary
- Automatic Data Processing, Inc. (ADP) reported private payrolls fell 32,000 in November 2025 after October's 47,000 gain.
- Larger businesses added 90,000 jobs, while firms with fewer than 50 employees lost 120,000.
- Losses were largest in professional services and manufacturing.
- Pay growth slowed to 4.4% year over year.
- The Federal Reserve is expected to consider a rate cut as the Bureau of Labor Statistics releases payroll data on December 16.
