Economists expected that the industry would add 40,000 jobs this month
NEW YORK - Private employers shed 23,000 jobs in March, missing expectations for an increase in jobs although fewer than the adjusted 24,000 jobs lost in February, a report by a private employment service said Wednesday.
The February fall was originally reported at 20,000.
The median of estimates from 35 economists surveyed by Reuters for the ADP Employer Services report, jointly developed with Macroeconomic Advisers LLC, was for a rise of 40,000 private-sector jobs this month.
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6 comments:
Harry Reid would say this is "Good News."
Unfortuantly my wife became one of these "statistics" on Monday. No prior notice, no severence package, nothing. All she got was Sorry but today was your last day. We've eliminated your position. She was in the health care industry, so thanks Obama Care.
I wish we knew the truth about how many people are really unemployed or underemployed in Amerika.
11:40 sorry to hear that, keep your chin up.
this has been going on for a while. well before the recession, Obama, and even Bush. Especially in corporate america.
Automation and outsourcing has allowed corporations do more with less.
In the IT world back in the early 90's, a typical corporation with 3,000 employees would take a staff of 30 or more people to handle desktop support and networking. Now, you can do the same job with only a handfull of IT staff. and most of them dont even have to be onsite.
This is a cycle that we have seen over and over as automation comes to agriculture, manufacturing, and now information processing. It is nothing new.
12:17, why even try with this audience. EVERYTHING is Obama's fault, including their expanding waistlines, yesterday's rain, and the fact that they can't get a date.
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