ROSELAND, N.J. -- According to ADP’s National Employment Report, private sector employment decreased by 203,000 in October.
Nonfarm private employment decreased 203,000 from September to October 2009 on a seasonally adjusted basis. October was the seventh consecutive month during which the decline in employment was less than in the previous month.
October’s ADP Report estimates employment in the goods-producing sector declined 117,000, with employment in the manufacturing sector dropping 65,000.
Large businesses, defined as those with 500 or more workers, saw employment decline by 53,000, while medium-size businesses with between 50 and 499 workers declined 75,000. Employment among small-size businesses -- those with fewer than 50 workers -- declined 75,000.
Joel Prakken, Chairman of Macroeconomic Advisers says, “Despite recent indications that overall economic activity is stabilizing, employment, which usually trails overall economic activity, is likely to decline for at least a few more months.”
The ADP National Employment Report, created by Automatic Data Processing, Inc., in partnership with Macroeconomic Advisers, LLC, is derived from actual payroll data and measures the change in total nonfarm private employment each month.
To obtain additional information about the ADP National Employment Report, visit www.ADPemploymentreport.com