Hiring by U.S. companies unexpectedly cooled in November, the latest sign that the labor market is softening in the face of higher interest rates, according to the ADP National Employment Report released Wednesday morning.

<a href="https://foxbusiness.com/category/jobs" target="_blank">Companies added 103,000 jobs</a> last month, below the 130,000 gain that economists surveyed by Refinitiv predicted and slightly lower than the revised 106,000 increase recorded in October.

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Hiring by private U.S. companies eased more than forecast in November, a sign that the labor market may be softening in the face of higher interest rates.{ai:summary}US companies hired fewer workers than expected in November, indicating a softening labor market amid higher interest rates. ADP National Employment Report shows an addition of 103,000 jobs, falling short of economists' predictions and lower than October's numbers. #economy

Private sector job growth cools more than expected in November: ADP

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