US private cos cut 39,000 jobs in September

Updated on: Friday, October 08, 2010

Private companies in the US slashed as many as 39,000 jobs in September, in another indication that sluggish economic recovery is hurting the country's labour market.

The figures from the ADP National Employment Report does not include jobs created or cut by the Federal government, such as temporary hiring for census activities.

"Private-sector employment decreased by 39,000 from August to September on a seasonally adjusted basis," the report released today said.

The report is based on inputs from an anonymous subset of about 500,000 US business clients.

"The decline in private employment in September confirms a pause in the economic recovery already evident in other data. A deceleration of employment occurred in all the major sectors...," it noted.

Despite massive stimulus measures, the US economic growth has drastically slowed down in recent months and unemployment continues to remain at high levels. The jobless rate touched 9.6 per cent in August.

"The September decline in employment followed seven monthly increases from February through August. However, over those seven months, the average monthly gain in employment was 34,000," the report said.

Meanwhile, revising its earlier estimate that 10,000 private sector jobs were lost in August, the report noted that the same number of jobs were created during the same period.

Sponsored by ADP, the report is maintained by consultancy Macroeconomic Advisers, LLC.

US private cos cut 39,000 jobs in September

More Education news