November 4, 2009
Private Employers Shed 203K Jobs Last Month
By Matthew L. Brown
Private employment decreased by 203,000 between September and October, continuing a seven-month trend of easing job loss, according to the ADP National Employment Report.
ADP, a payroll services firm, said that despite decelerating job loss, overall employment is likely to decline for "at least a few more months."
Non-farm private employment in the service sector fell by 86,000 during the month. Employment in the goods-producing sector dropped by 117,000 and manufacturing shed 65,000 jobs.
The construction industry lost 51,000 jobs, its 33rd consecutive month of job losses. Since its peak in January 2007, the construction industry has lost 1.7 million jobs.
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