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ADP shows biggest job loss in nearly 6 years

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  • ADP shows biggest job loss in nearly 6 years

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    WASHINGTON (MarketWatch) - Private-sector firms in the United States lost 79,000 jobs in June, the biggest loss since November 2002, according to the ADP employment index released Wednesday. Employment in the services sector fell by 3,000, the first decline since November 2002. Job gains in May were revised lower to 25,000 from 40,000 earlier. After adding in some 20,000 government jobs that are created in a typical month but not included in ADP's index, the ADP number suggests that about 60,000 nonfarm payroll jobs were lost in June. Economists surveyed by MarketWatch now expect 40,000 net payroll jobs were lost in June, following a loss of 49,000 in May.
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