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Employment shrank in December for the first time in eight months as stricter COVID-19 lockdown measures cut into economic growth.

The country’s private sector shed 123,000 payrolls last month, according to the ADP monthly employment report published Wednesday morning. Economists surveyed by Bloomberg expected an increase of 75,000 payrolls. The decline is the first seen since the coronavirus pandemic slammed hiring activity in early 2020.

The reading also lands below the revised 304,000 total for November. The labor market’s recovery weakened through the end of 2020 as COVID-19 cases surged higher and prompted state and local details ⇒

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