US lost 32,000 private sector jobs in November, ADP says
Last month, 32,000 private-sector jobs were lost, according to the ADP National Employment Report.
Additionally, the report, by ADP Research and the Stanford Digital Economy Lab, stated that pay increased by 4.4% year over year, but declined from October's 4.5% rise.
"Hiring has been choppy of late as employers weather cautious consumers and an uncertain macroeconomic environment," Nela Richardson, chief economist at ADP, said in a statement.
Data shows that last month’s hiring was particularly slow in manufacturing, which lost 18,000 jobs; professional and business services, down 26,000; and construction, a 9,000 reduction.
One forecast predicts nation will sell 4.51 million homes next year
Mortgage rates on a 30-year home loan will hang around 6.25% at the beginning of next year before falling to 6.15% at the end of 2026, researchers at Bright MLS said in a housing market forecast Wednesday.
Bright MLS also said it expects the nation to sell 4.51 million homes in 2026, a 9% jump from 2025. Home inventory will increase nearly 11% to 1.42 million, and the median home price will rise 0.9% to about $417,600, the Multiple Listing Service said.
Lisa Sturtevant, Bright MLS chief economist, said she expects 2026 to be “one of the most geographically divided markets we’ve seen in years.”
“The 2026 housing market will be shaped by uncertainty — economic, demographic and regional,” she said in a statement. “While lower mortgage rates and more inventory will bring some buyers back, this (2026) will be a reset year, not a rebound year.”
In its forecast, Bright MLS said its predictions may not pan out if inflation reignites next year and causes mortgage rates to climb or if plans to privatize Fannie Mae and Freddie Mac come to fruition.