MARKET DAILY

Market 12/06: Recession signals via ADP employment report

Hiring slows, manufacturing sector cuts workforce + trade deficit rises: signs indicating economic slowdown.

According to the ADP employment report, the labor market only added +103,000 jobs in November, lower than the expected +130,000.

Jobs in sector manufacturing recorded the strongest decline (-15,000) followed by the entertainment hotel sector (-7000).

Jobs in sector services and entertainment after a long period of growth also declined for the first time since February 2021.

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