LinkUp Monthly NFP Forecast: November 2025

LinkUp estimates that there was an increase of 45,000 in US nonfarm payroll employment in November, up from the estimate of -5,000 in October.
- LinkUp observed a -19.5% MoM decline in new job postings in its data, and a -7.5% MoM decline in total job postings.
- Based on the large decline in job postings in November, LinkUp expects that December nonfarm payroll employment growth will be negative.
