ADP:U.S. Companies Unexpectedly Cut Payrolls (Update3)
Companies in the U.S. unexpectedly cut payrolls in March, according to data from a private report based on payrolls.
The 23,000 decline was the smallest in two years and followed a revised 24,000 drop the prior month, data from ADP Employer Services showed today. Over the previous six months, ADP’s initial figures have overstated the Labor Department’s first estimate of private payroll losses by as little as 2,000 in February to as much as 151,000 in November.
(Excerpt) Read more at businessweek.com
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