U.S. Labor Market Shows Signs of Slowdown in November

November’s U.S. labor market showed signs of slowing down, according to recent reports from ChainCatcher and Jinshi. The ADP report revealed a notable decrease in private sector employment with 32,000 job losses reported during the month. Small businesses were most impacted by these layoffs. This slowdown is particularly evident compared to October’s revised data which saw an upward revision of 47,000 jobs, exceeding economists’ expectations for a 40,000 job growth predicted by Dow Jones. This report will be crucial before the Federal Reserve makes its interest rate decision in December.