250,000 Private Sector Jobs Lost in November

Employment in the private sector fell by 250,000 in November, according to the latest monthly report by payroll processor ADP.

The report, produced in partnership with Macroeconomic Advisers, found that small businesses with less than 50 employees dropped 79,000 jobs, midsized businesses cut 130,000 jobs, and large businesses with more than 499 employees slashed 41,000 jobs.

The goods-producing sector dropped 158,000 jobs and the service-providing sector cut 92,000 jobs across all sizes of businesses in November. Small businesses in the goods-producing sector cut 47,000 jobs, while small businesses in the service-providing sector dropped 32,000 jobs in November. The manufacturing sector lost 118,000 jobs in November and construction employment dropped 44,000.

ADP also adjusted the numbers from its October jobs report, from a decrease of 157,000 to a decrease of 179,000 jobs (see Private Sector Lost 157,000 Jobs in October). The U.S. Labor Department's Bureau of Labor Statistics reported a decline of 240,000 in non-farm payroll employment in October across both the private and public sectors.