Private Sector Employment Fell By 371,000 Jobs In July

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Private sector employment showed another notable decline in the month of July, according to a report released by Automatic Data Processing, Inc. (ADP) on Wednesday, although the pace of job losses slowed to its slowest rate since October of 2008.

ADP said non-farm private employment fell by 371,000 jobs in July following a revised decrease of 463,000 jobs in June. Economists had been expecting a decrease of about 350,000 jobs compared to the loss of 473,000 jobs originally reported for the previous month.

Private sector employment showed another notable decline in the month of July, according to a report released by Automatic Data Processing, Inc. (ADP) on Wednesday, although the pace of job losses slowed to its slowest rate since October of 2008. (Market News Provided by RTTNews)