Weakening job growth could lock in an interest rate cut by the Federal Reserve next week, according to economists.

Private employers in the US shed 32,000 jobs in November, according to unofficial data that has gained a more prominent role since the record government shutdown delayed the release of official figures.

Private employers shed 32,000 jobs in November, ADP estimated, a swing from the 47,000 private-sector jobs that ADP estimated were added in October. Analysts surveyed by The Wall Street Journal were expecting to see 40,

Private employers in the U.S. shed 32,000 jobs in November, payroll processor ADP said Wednesday. Economists surveyed by Dow Jones had been expecting to see an increase of 40,000. ADP's Chief Economist Nela Richardson described November's jobs data as a "slowdown" that was "broad-based.

While the construction and manufacturing industries saw job declines of 9,000 and 18,000, respectively, the natural res

Private-sector payrolls decreased by 32,000 in November, ADP reported, well below Wall Street’s estimate for an added 40,000 jobs, according to FactSet. That matches the largest single-month decline since March 2023.

Wall Street stocks shrugged off early weakness Wednesday and finished with solid gains after poor US hiring data boosted expectations that the Federal Reserve will cut interest rates next week.

Equities struggled on Wednesday as data showed US businesses unexpectedly shed jobs last month. The US private sector lost 32,000 jobs in November, according to payroll firm ADP, compared to a small gain expected by analysts.