U.S. Private Sector Shed 491,000 Jobs in April, ADP

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
 -- 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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