Wonderland Wire

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742,000 US Jobs Lost in March

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2 Apr 09 | PTV

America’s private sector employers cut 742,000 jobs in March, a figure that represents the largest decline since records began in 2001.

The record is much higher than a 706,000 drop recorded in February, according to a report issued on Wednesday by Roseland’s Automatic Data Processing (ADP), a national payroll processor.

This is the biggest loss ever recorded by ADP, since it began registering jobless figures in 2001. The decline was nearly 80,000 more than the average forecast of 663,000 job losses.

The report is an assessment of US employment resulting from an anonymous division of around 500,000 US business clients.

According to the report, large US entities cut 128,000 jobs while medium and small-size businesses axed their payrolls by 330,000 and 284,000 respectively.


Written by Editors

2 April 2009 at 3:22 pm

Posted in Domestic, US

Tagged with ,

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