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ADP: U.S. loses 371,000 jobs in July

August 05, 2009

The U.S. lost 371,000 private-sector nonfarm jobs between June and July on a seasonally adjusted basis, according to the National Employment Report released today by Automatic Data Processing Inc. (NYSE: ADP).

The monthly decline is the smallest since October and represents continued improvement, but the report said job losses are likely to continue for several more months at a diminishing rate.

In July, the ADP report said service-sector jobs fell by 202,000 and jobs in the goods-producing sector fell by 169,000.

Also, the reported revised down its estimate of jobs lost in June to 463,000 from 473,000.

Data in the ADP report is derived from an anonymous subset of U.S. business clients.