March 4, 2009
Private Sector Employment Down 697K
By Matthew L. Brown
Private sector employment decreased by 697,000 positions in February, according to the ADP National Employment Report.
ADP, a human resources and payroll services firm based in New Jersey, said the hardest hit sectors were the service-producing sector, which lost 359,000 jobs and the goods-producing sector, which lost 338,000.
Small businesses, which ADP classifies as those with fewer than 50 employees, lost 262,000 jobs while large businesses lost 121,000. The manufacturing industry lost 219,000 jobs.
ADP said the February jobs plunge indicates that "the recession is spreading aggressively beyond manufacturing and housing-related activities."
WBJ Web Partners
Most Recent
Most Recent
0 Comments