Mom and Pop Layoffs

Small businesses had big job losses last month.

Payroll processor ADP reported that the U.S. lost 32K jobs in November; medium and large companies added workers at a steady clip, but not enough to offset the 120K losses from the little guys, who are struggling with higher costs from tariffs and cautious consumers. A separate report showed that announced layoffs have climbed to their highest levels since 2020—adding to concerns about a cooling labor market.

Reactions have been mixed. Some economists are worried these mom-and-pop shops are the “canaries in the coal mine” and predict rising unemployment. Others say the data suggests a slowdown in hiring but not a sharp drop off.

ADP’s report is getting extra attention because shutdown-related delays mean official government data™ hasn’t been released since September.

BE DOERS
Economic headlines may look like numbers on a spreadsheet, but real people feel the weight of job loss and economic strain. Do you know someone who’s recently lost a job or whose business is struggling? Consider encouraging them with a simple text, meal, or act of generosity.

“If anyone has this world’s goods and sees a fellow believer in need but withholds compassion from him ​— ​how does God’s love reside in him? Little children, let us not love in word or speech, but in action and in truth.” 
1 John 3:17-18 (CSB) (read full passage)