Jobs
Employment Fell at US Service Providers, Factories for First Time Since 2020
- S&P Global data show payrolls shrank in both sectors
- Firms cite marginal demand, high costs and outlook concerns
A welder works on a locomotive engine in Waycross, Georgia.
Photographer: Stephen B. Morton/BloombergThis article is for subscribers only.
Employment declined at US service providers and manufacturers in November for the first time since mid-2020 amid tepid demand and elevated costs, a survey from S&P Global showed.
The S&P Global flash composite employment index slid 1.6 points to 49.7, just below the level that separates expansion and contraction. The group’s measure of overall business activity was unchanged in November, and for fourth month, remained less than a point above the stagnation reading of 50.