Wednesday, September 2, 2009

Private sector sheds 298,000 jobs in August: ADP survey

"WASHINGTON -- Employment in the U.S. private sector fell by 298,000 in August, according to the ADP employment report released Wednesday. 

The drop suggests nonfarm payrolls may sink by more than the 250,000 anticipated by economists ahead of the government's much-anticipated report due out Friday morning."

Job creation is a problem right now. Especially, when a majority of the businesses in the United States are small businesses. With trouble attaining credit and capital to fund and expand their businesses, or even to have it stay afloat job growth will continue to be a problem.

With further job losses and unaccounted for discouraged workers, and part-time workers in the fold, this economy will not rebound at a staggering pace any time soon.  I look forward to Friday's numbers.

Source: marketwatch

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