The private-sector job market contracted slightly in late October, according to a new report from payroll processing firm ADP.
Private sector employers shed an average of 11,250 jobs a week in the four weeks ending Oct. 25, “suggesting that the labor market struggled to produce jobs consistently during the second half of the month,” ADP said.
How the Federal Reserve perceives the labor market will be critical in their decision whether or not the central bankers to cut interest rates again at their meeting on Dec. 10.
This is breaking news. Check back for updates here.
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-Greg Robb
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