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."

The drop was "led by a pullback among small businesses," Richardson said.

Small firms with under 49 employees led the contraction by far, followed by medium sized businesses with under 499 employees. Large companies with more than 500 workers were less impacted but still showed a pullback in hiring.

Among the industries that fared the worst in November were professional/business services, manufacturing, and firms that provide information services.

The report comes as the data blackout caused by the go

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