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in Economy

Private hiring increased by just 127,000 jobs in November, well below estimate, ADP reports

by Editor December 30, 2022, 1:16 am 2k Views

Private hiring slowed sharply during November in a sign that the historically tight labor market could be losing some steam, according to a report Wednesday from payroll processing firm ADP.

Companies added just 127,000 positions for the month, a steep reduction from the 239,000 the firm reported for October and well below the Dow Jones estimate for 190,000. It also was the lowest total since January 2021.