According to Wednesday’s ADP data release, private sector employment shed 491,000 jobs in April, fewer than expected by analysts, indicating the prolonged recession may be easing.
From ADP NER®: Nonfarm private employment decreased 491,000 from March to April 2009 on a seasonally adjusted basis…The estimated change of employment from February to March was revised by 34,000, from a decline of 742,000 to a decline of 708,000.CNNMoney: Nonfarm Private Employment Highlights -- April Report: -- Total employment: -491,000 -- Small businesses* -183,000 -- Medium businesses** -231,000 -- Large businesses*** -77,000 -- Goods-producing sector: -262,000 -- Service-providing sector: -229,000 Addendum: -- Manufacturing industry: -159,000 * Small businesses represent payrolls with 1-49 employees ** Medium businesses represent payrolls with 50-499 employees *** Large businesses represent payrolls with more than 499 employees
April figure was the smallest private payrolls decline since October last year.
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