Wednesday, July 1, 2009
Employment Situation: ADP Jobs Report
Job losses exceeded estimates: 473,000 vs. expectations of 390,000.
The miss was mitigated by upward revisions to previous months.
- 17 consecutive months of job losses
- 6,206,000 job losses since & including 12/2007
- Employment now stands at the same level as 4/2004
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1 comment:
I'm sticking with my estimate from last week: non-farm payrolls down 450k. Release tomorrow.
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