U.S. Private Sector Sheds 203,000 Jobs in October

Seventh month in a row showing smaller job losses

ADP reported on Nov. 4 that the U.S. private sector shed 203,000 jobs in October, the seventh month in a row that employment declines were smaller than in the previous month.

Employment in the manufacturing sector dropping 65,000.

In the goods-producing sector 117,000 jobs were lost.

The ADP survey added support to indications that job losses are slowing as the economy pulls out of steep recession that began in December 2007. "Despite recent indications that overall economic activity is stabilizing, employment, which usually trails overall economic activity, is likely to decline for at least a few more months," ADP said.

The ADP revised downward the October number of job losses, to a decline of 227,000 from the prior estimate of 254,000.

Copyright Agence France-Presse, 2009

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