U.S. Labor Market Faces Increased Slowdown in November

According to ChainCatcher, the U.S. labor market experienced a significant slowdown in November, as reported by Jinshi. The ADP report revealed that private companies laid off 32,000 employees during the month, with small businesses being the hardest hit. The data indicated a sharp deterioration in the employment market compared to October, which saw an upward revision to an increase of 47,000 jobs, falling short of the 40,000 job growth predicted by economists surveyed by Dow Jones. This report serves as the final employment data before the Federal Reserve's interest rate decision in December. Futures traders estimate a nearly 90% chance that the Federal Reserve will lower the key interest rate by another 25 basis points.