US private employment losses accelerate in November: Market research firm

By Mucahithan Avcioglu

ISTANBUL (AA) - US private payrolls lost 13,500 jobs per week in the four weeks through Nov. 8, according to a preliminary estimate released Tuesday by market research firm ADP.

The downturn suggested that the US labor market showed further signs of weakening in the past few weeks. In the previous report, ADP said US private payrolls lost 11,250 jobs per week in the four weeks through Oct. 25.

In early November, ADP reported a private nonfarm payroll growth of 42,000 for October after a two-month downturn. However, that growth only reflected data through the middle of the month.

Alternative data, such as ADP's, has been filling in the gaps in the economic picture, while the government shutdown continues to affect data releases.

Schedules have been updated by government organizations like the bureaus of Labor Statistics and Economic Analysis, but important figures like the monthly total of nonfarm payrolls will not be available until December.

When the Federal Reserve meets again on Dec. 9-10, policymakers will not have much of the typical data they use to make projections. However, a number of officials have recently called for more interest rate reductions, which has caused the market to adjust expectations and now anticipate a drop at the meeting next month.