Report: Businesses Cut Fewest Jobs In October
Washington, D.C. (AHN) – Companies cut the fewest number of jobs during October than they had in more than a year, according to a private report released Wednesday.
Some 203,000 workers were fired or laid off last month, the smallest number since July 2008, data from payroll processing firm ADP found. In September, 227,000 jobs were lost, ADP said.
The greatest losses were in goods-producing jobs, which declined by 117,000. That number included 65,000 fewer jobs in manufacturing and 51,000 in construction. Jobs producing services fell by 86,000.
As of October, total private-sector employment was down 7.2 million from the 115.6 million when the recession began in December 2007.
The ADP report does not include government jobs. It is based on data from about 400,000 businesses with 23 million workers.
In a separate report, placement firm Challenger, Gray & Christmas Inc. said planned firings declined 51 percent last month to 55,679 from 112,884 a year ago.
The Labor Department will release its estimate of October nonfarm payrolls on Friday.
Article © AHN – All Rights Reserved
You can leave a response, or trackback from your own site.