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[Futures Traders Estimate Nearly 90% Probability of a 25 Basis Point Rate Cut by the Federal Reserve] The U.S. labor market slowed further in November, with the ADP report showing private companies cutting 32,000 jobs, with small businesses being hit the hardest. The job market deteriorated sharply compared to October, with October's data revised up to an increase of 47,000 jobs, while November's figures fell far short of economists' forecast of a 40,000-job increase. This is the last employment data before the Federal Reserve's December rate decision. Although some officials remain skeptical about further easing, futures traders believe there is nearly a 90% probability that the Federal Reserve will lower the key interest rate by 25 basis points.