FX.co ★ US Private Sector Cuts Jobs Again: ADP

In November 2025, private sector employment in the United States experienced a decline of 32,000 jobs, following a revised increase of 47,000 positions in October. This stands in contrast to the anticipated growth of 10,000 jobs and represents the most significant drop in private employment since March 2023. The primary driver of this decrease was a substantial reduction of 120,000 jobs among small businesses. Conversely, medium-sized enterprises added 51,000 jobs, and large companies contributed 39,000 new positions. Job creation was notably weak in several sectors, including manufacturing, which saw an 18,000 job reduction; professional and business services, with a loss of 26,000 jobs; information, down by 20,000; construction, reduced by 9,000; and financial activities, which also decreased by 9,000 positions. In contrast, there were job gains in sectors such as education and health services, with an increase of 33,000 roles; leisure and hospitality, which added 13,000 jobs; natural resources and mining, up by 8,000; and trade, transportation, and utilities, which grew by 1,000 positions. According to Dr. Nela Richardson, ADP's chief economist, "Hiring has been unpredictable recently as employers navigate cautious consumer behavior and an uncertain macroeconomic environment." Meanwhile, the annual pay for individuals staying in their jobs rose by 4.4%, slightly down from 4.5% previously. Those who changed jobs saw their pay increase by 6.3%, below the 6.7% growth observed in October.