Companies Unexpectedly Cut 39k Workers in September, ADP Says (Thank you Obama)

Posted by admin
October 7, 2010

Companies in the U.S. unexpectedly cut jobs in September, data from a private report based on payrolls showed today.

Employment decreased by 39,000, the biggest drop since January, after a revised 10,000 rise in August, according to figures from ADP Employer Services. The median estimate of 37 economists surveyed by Bloomberg News called for a 20,000 gain. Forecasts ranged from a decline of 44,000 to a 75,000 increase.

Read the whole story at Bloomberg.com

Unemployment

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