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November Job Cuts Hit Small Businesses Hard; Rate Cut Looms

2/25/2026

28 5 Full Breakdown

Summary

Story summary

In November 2025, private companies cut 32,000 jobs, primarily affecting small businesses.
Pay growth slowed to 4.4% year over year.
Larger firms added 90,000 jobs in November 2025.
Firms with fewer than 50 employees lost 120,000 positions.
The Federal Reserve's meeting on December 9-10 is anticipated, with a 90% chance of a quarter-point rate cut, and payroll data from the Bureau of Labor Statistics expected on December 16.

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Story summary

In November 2025, private companies cut 32,000 jobs, primarily affecting small businesses.
Pay growth slowed to 4.4% year over year.
Larger firms added 90,000 jobs in November 2025.
Firms with fewer than 50 employees lost 120,000 positions.
The Federal Reserve's meeting on December 9-10 is anticipated, with a 90% chance of a quarter-point rate cut, and payroll data from the Bureau of Labor Statistics expected on December 16.