NOTE: The ADP report includes only private sector data. Bureau of Labor Statistics data for November will not be released until December 16, 2025.
The U.S. economy unexpectedly lost 32,000 jobs in November, according to the latest ADP National Employment Report.
Dow Jones economists had anticipated job gains of 40,000. November's private payrolls decline also "marked a sharp step down from October, which saw an upwardly revised gain of 47,000 positions," according to CNBC.
Hiring was notably weak in certain sectors:
According to ADP's report, November hiring was "particularly weak" in the manufacturing (-18,000), professional and business services (-26,000), information (-20,000), and construction (-9,000) sectors.
Gains were seen in the education and health services (+33,000) and leisure and hospitality (+13,000) sectors.
ADP noted significant regional disparity in hiring:
The Northeast region lost 100,000 jobs, while the South lost 43,000.
The Midwest and West regions gained jobs, 45,000 and 67,000, respectively.
Small businesses lost the most jobs:
Small businesses lost 120,000 jobs, while medium-sized establishments gained 51,000 and large employers gained 39,000.
Annual pay increased by 4.4% in November:
For job-stayers, year-over-year pay increased 4.4%, a slight decline from October's 4.5% gain.
Job-changers saw pay up 6.3% in November, down from 6.7% growth in October.
Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment. And while November's slowdown was broad-based, it was led by a pullback among small businesses."
Read more via ADP, CNBC
U.S. employers announced "71,321 job cuts in November," up 24% over November 2024, according to Challenger, Gray & Christmas.
Layoffs were up in November 2025 (71,321) over November 2024 (57,727).
Layoffs declined in November over the prior month, down 53% from the 150,000+ layoffs announced in October.
This year's job cuts were the highest November cuts since 2022.
Challenger noted it is also the “eighth time this year job cuts were higher than the corresponding month one year earlier.”
Job cuts in November have risen above 70,000 only twice since 2008: in 2022 and in 2008."
Employers have now announced 1,170,821 job cuts this year, a 54% increase over "the 761,358 announced in the first eleven months of last year."
This marks just the "sixth time since 1993 that announced job cuts through the month of November have surpassed 1.1 million."
By sector, telecommunications, technology, food and the services sectors announced the most cuts.
The leading driver for job cuts was restructuring, followed by market and economic conditions and artificial intelligence.
Read more via NBC News, Challenger Gray
The Federal Reserve's latest Beige Book report suggests employment “declined slightly over the current period with around half of Districts noting weaker labor demand.” In most districts, contacts are “limiting headcounts using hiring freezes, replacement-only hiring, and attrition."
Boston: Employment “edged lower amid weakening labor demand.” Wages “rose modestly,” though “starting wages were flat.” At least one contact noted “AI was holding back entry-level hiring.” The majority of employers expected “head counts would remain stable over the next 12 months, but some planned to add employees, while others planned to reduce employment through attrition and moderate layoffs.”
New York: Employment “declined slightly during the reporting period,” with most sectors reporting “lower head counts,” and “substantial declines in construction, education, and health care.” Labor supply continued to “outpace” labor demand, and employers noted “it has consistently been easier to find workers.” AI has reduced “demand for workers in certain roles, such as customer service, especially at larger companies.” Wage growth slowed within the district.
Philadelphia: Employment decreased “slightly,” though “most firms reported no change.” 38% of employers “expected employment to increase over the next four quarters,” while 44% anticipated no change and 19% of firms expected a decrease in headcount.
Cleveland: Employment levels remained “flat” in recent weeks, with several contacts mentioning “restricted hiring through freezes or replacement-only policies in response to softening demand and elevated labor costs.” In the manufacturing sector, several contacts “mentioned using AI tools and automation technologies to enhance worker productivity,” and one contact said AI enabled the firm to “reduce its office staff by 15 percent.”
Richmond: Employment “remained unchanged,” with contacts reporting “satisfaction with current staffing levels.” Wage growth was moderate, with several contacts “noting that they needed to increase compensation to help retain workers.”
Atlanta: Employment levels remained flat, and “turnover remained low.” Some firms are hiring only to replace workers, while others have implemented hiring freezes or have reduced headcounts. Wage growth was “modest, in the low single-digits.”
Chicago: Employment increased slightly over the reporting period. Contacts noted “softer labor market conditions, including low turnover, reduced absenteeism, and easier hiring.” Wage and benefits costs increased modestly.
St. Louis: Employment levels remained unchanged, with most firms reporting they are “not hiring because of softening in demand.” Wage growth was moderate, with some contacts noting the “lack of immigrant workers was putting slight upward pressure on wages.”
Minneapolis: Employment levels decreased slightly. Contacts reported that workforce reductions were implemented to a greater degree to stave off rising labor costs. Wage increases were modest overall. There was a “notable uptick in benefit costs, with employers reporting large increases in health-care premiums.”
Kansas City: Employment “decreased slightly,” and demand for workers “eased.” Headcount reductions occurred “primarily through attrition rather than layoffs, suggesting businesses are still cautious about losing talent.”
Dallas: Employment “continued to fall over the reporting period.” Several firms noted that “AI is allowing workers to reduce time spent on routine tasks.” Wage growth “remained modest.”
San Francisco: Turnover remained low and most firms reported “no major changes to their head counts and hired primarily to replace retiring workers and voluntary departures.” Hiring increased in manufacturing and health care, but layoffs occurred in technology, banking and entertainment. While employers found it generally easier to find workers, “finding applicants with specific skills continued to be challenging for some positions.”
Read more via Federal Reserve Board of Governors
Healthcare organizations will prioritize AI safeguards, cybersecurity, financial resilience, and workforce development as they navigate challenging macroeconomic and regulatory pressures in 2026, according to EY.
Highlights from EY's report:
AI adoption accelerates (with guardrails): 88% of health leaders now trust AI technologies and organizations are moving beyond experimentation toward establishing responsible AI strategies with proactive guidelines.
Cybersecurity has become a strategic priority: 72% of health executives have experienced moderate to severe financial impacts from cyber incidents, pushing leaders to view cybersecurity as a strategic enabler rather than a cost center.
Tech-enabled models will reduce costs: Leaders are embracing technology-driven care delivery to reduce costs and improve efficiency amid aging populations and tighter margins.
Offshoring will address worker shortages: Healthcare organizations are tapping global talent pools for clinical services to address labor gaps and support remote care delivery, though geopolitical challenges and immigration policy shifts create obstacles.
Upskilling is a more urgent priority: Training initiatives focused on AI output validation and cybersecurity are becoming essential for attracting and retaining talent while building workforce resilience.
Payers, providers and consumers are finding themselves at the intersection of change in healthcare like no other time in history."
Read more via EY
Beginning December 15, all H-1B visa applicants and their family members must make their social media profiles public for government review, the State Department announced last week. The new policy represents a significant expansion of digital screening requirements for employment-based visa applicants.
What's changing:
Consular officers worldwide will conduct "online presence reviews" for all H-1B specialty occupation applicants and their H-4 dependent spouses and children. (The policy applies globally to applicants of all nationalities.)
Applicants must adjust privacy settings to "public" across all platforms so officers can access posts, networks, employment information, and digital activity.
What the review process will entail:
Officers will examine publicly accessible posts, photos, comments, connections, and biographies across declared platforms to verify employment backgrounds and identify potential security concerns.
Discrepancies between what appears in online profiles versus H-1B petition materials could result in additional questioning or processing delays.
Social media activity from dependent family members, including posts with political content or controversial images, could affect the applicant's H-1B application.
Those working in roles related to online content oversight, fact-checking operations, or monitoring misinformation may face additional scrutiny.
Processing delays expected:
Interviews will take longer as officers review more information, and more cases may enter administrative processing, which could delay approvals by weeks or months.
Part of broader H-1B crackdown:
The social media vetting requirement follows several other major changes to the H-1B system under the Trump administration, including a $100,000 fee imposed in September on new H-1B applications, a proposed rule to replace the random lottery with a wage-based selection process, and a Labor Department initiative targeting wage and discrimination violations. (Check out the Need to Know Spotlight on H-1B changes.)
The State Department already conducts similar social media reviews for foreign students and exchange visitors in certain categories. The agency described the new policy as part of the administration's focus on “protecting our nation and our citizens.”
Read more via Business Insider, Fisher Phillips
Germany: Inflation increased "more than expected in November," reaching its "highest level since February." Unemployment increased, though less than expected, suggesting a "persistent lack of momentum in the job market." Germany's economy is "expected to grow by only 0.2% in 2025." (Reuters)
India: White-collar recruitment increased 23% year-over-year in November, and by 6% over the prior month, according to a recent report by Naukri JobSpeak. White-collar recruitment for workers with less than 3 years of experience increased by 30%. (SIA)
Japan: The unemployment rate held "for the third consecutive month" at 2.6% in October, according to government data. The number of women in the workforce increased to 31.59 million, the "highest level since comparable data became available in January 1953." Officials say the "recent increase in women’s employment resulted from wage increases and ongoing labor shortages." (SIA)
Spain: Christmas hiring in Spain is expected to "generate 452,950 new hires in the country, 4.7% more than last year’s campaign," according to Randstad Spain. According to Randstad, in the first 11 months of the year, Spain has seen a "2.9% year-on-year increase in temporary employment compared to a 1% drop in permanent employment." (SIA)
United Kingdom: UK businesses are anticipating staff reductions, according to the Bank of England. UK firms said they intended to increase prices by 3.7% over the next 12 months, "0.1 percentage points more than they had expected one month earlier." The report noted "weakened" expectations for employment over the next year. (Reuters)
