US: Update ADP Employment Report |
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According to the ADP National Employment Report, private non-farm payrolls dropped 203K jobs in October, fewer than the 227K jobs shed in September. While this is the smallest number of job losses since July 2008, it is also the twenty-first consecutive monthly decline. Job losses slowed to 117K from 146K in the goods producing sector, but rose to 86K from 81K in the services sector. Meanwhile losses slowed across firms of all sizes. Job destruction eased to 53K from 56K in large firms, 75K
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