U.S. Economic News

December 2, 2020

U.S. Economic Indicators

The ADP Employment Report shows that private-sector employment increased by 307,000 jobs in November, below expectations. The services sector gained 276,000 jobs, while the goods-producing sector gained 31,000 jobs. ADP Report

U.S. News

The Financial Times reports that ex-Fed chair and Biden Treasury Secretary pick Janet Yellen is warning about the potential for “more devastation” as self-reinforcing recession effects take hold in the absence of quick government action. Her comments provide insight into the first priorities for the incoming presidential administration, which are expected to include additional spending on unemployment benefits and aid for small businesses and state and local governments. FT