Small Businesses Shed 120,000 Jobs — Lutnick Claims ‘Numbers Will Be Fantastic’
The U.S. private sector unexpectedly lost 32,000 jobs in November, according to new data from ADP — a sharp reversal from economists’ expectations of modest growth and a troubling sign for the broader labor market.
The losses were driven overwhelmingly by small businesses, which shed an estimated 120,000 jobs, wiping out modest gains among larger firms. …
