ADP puts job losses at 254,000
Non-farm job losses in August to September were the smallest monthly total in 12 months, Automatic Data Processing reported Wednesday.
It was the second consecutive month of slowing job losses. ADP revised its July to August estimate to 277,000 from last month’s estimate of 298,000. In the latest month, 254,000 jobs were lost.
The report is consistent with other economic indicators that say the worst of the recession is over. Nevertheless, job losses are adding up. Construction lost 73,000 jobs in the latest monthly report. But it was the 32cnd consecutive month of job losses in the sector, which has shed more than 1.6 million jobs since January 2007.
Employment, which usually trails overall economic activity, is likely to decline for at least several more months, ADP said.
ADP said 103,000 service jobs were lost in the month, while 151,000 goods producing jobs were lost.