The U.S. labor market is flashing new warning signs as private payroll losses accelerate, according to fresh data from ADP. The payroll processor reported that private employers shed an average of 13,500 jobs per week over the past four weeks, a sharp jump from the 2,500-per-week decline reported just a week earlier.
With the federal government shutdown still delaying major economic releases, ADP’s running updates have become one of the few real-time indicators available.
⚠️BREAKING:
— Investing.com (@Investingcom) November 25, 2025
*ADP: US PRIVATE PAYROLLS FELL AVG -13,500/WK IN 4 WKS TO NOV. 8; PREV. -2,500
🇺🇸🇺🇸 pic.twitter.com/gXaw7QEWsa
Key federal reports, including the monthly nonfarm payrolls and inflation data, are now pushed to mid-December. That leaves the Federal Reserve with limited visibility heading into its Dec. 9–10 policy meeting.
Still, several Fed officials have signaled support for additional rate cuts, and Goldman Sachs chief economist Jan Hatzius said there is “little on the calendar to derail a cut on December 10.” Goldman expects a December cut followed by two more in 2026.
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