°®¶¹´«Ã½

The weak ADP report risks heightening concerns of a more rapid deterioration in the labor market ahead of the Federal Reserve’s final policy meeting of the year next week.

Initial claims decreased by 6,000 to 216,000 in the week ended Nov. 22. The median forecast in a Bloomberg survey of economists called for 225,000 applications.

While helping to temper concerns of a faster deterioration in the job market, the modest payrolls increase last month is consistent with a general softening in labor demand.

GDP is already poised to be at least one percentage point lower in the fourth quarter due to the government shutdown, according to the CBO report released Oct. 29.

The Conference Board’s gauge decreased 1 point to 94.6, the lowest since April, data out Oct. 28 showed. The median estimate in a Bloomberg survey of economists called for a reading of 93.4.

Private sector payrolls decreased by 32,000 after a revised 3,000 decline a month earlier, according to ADP Research data released Oct. 1.

U.S. customs duties climbed to a record in May, helping shrink the budget deficit for the month, while doubts remain about the persistence of the inflows.

The CBO handed Republicans a major political talking point, with projections showing the possibility for tariffs to bring in more federal revenue than would be lost by Trump's tax cut plan.

Hiring decelerated to the slowest pace in two years as sectors including transportation shed jobs, pointing to a weakened demand for workers.

While prices will rise for everyone, lower-income families are expected to lose a larger portion of their budgets because they tend to spend more of their earnings on goods.