ADP: 169,000 US Jobs Cut Last Month
Nonfarm private employment decreased 169,000 from October to November 2009 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from September to October was revised by 8,000, from a decline of 203,000 to a decline of 195,000.
November was the eighth consecutive month during which the decline in employment was less than in the previous month. Although overall economic activity is stabilizing, employment usually trails economic activity, so it is likely to decline for at least a few more months.
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