By Lucia Mutikani

Summary:

– U.S. private payrolls declined 32,000 in November, biggest drop since March 2023.

– Small businesses shed 120,000 jobs ; medium and large firms added jobs.

– Economists caution ADP data diverges from official BLS numbers, November jobs report due Dec. 16.

WASHINGTON — U.S. private payrolls posted their biggest drop in more than two and a half years in November as small businesses shed jobs, but the weakness is probably not a true reflection of the labor market ‘s health, with recent government data showing still-low layoffs.

Economists also cautioned against reading too much into the unexpected decline shown in the ADP employment report on Wednesday, arguing the monthly estimate has diverged from the government’s private payrolls count produced

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