Private Sector Employment Fell By 298,000 Jobs In August

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Private sector employment fell by much more than expected in the month of August, according to a report released by Automatic Data Processing, Inc. (ADP) on Wednesday, although the report still showed a slowdown in the pace of job losses.

ADP said that non-farm private employment fell by 298,000 jobs in August following a revised decrease of 360,000 jobs in July. Economists had expected a decrease of about 246,000 jobs compared to the loss of 371,000 jobs originally reported for the previous month.

Private sector employment fell by much more than expected in the month of August, according to a report released by Automatic Data Processing, Inc. (ADP) on Wednesday, although the report still showed a slowdown in the pace of job losses. (Market News Provided by RTTNews)