Payroll processor Automatic Data Processing (ADP) and forecasting firm Moody's Analytics reported that employers added 118,000 new private-sector jobs last month compared to 157,000 jobs in October. Economists were expecting a gain of 125,000.
Small businesses were of particular concern, adding just 19,000 jobs.
"We think of small businesses as job creators and fuel for the economy," Heidi Moore tells The Daily Ticker. "If they're not growing, we really need to worry." Manufacturing was also hit hard, losing 16,000 jobs in November.
Barry, you're doing a heck of a job ...