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ADP: U.S. lost 20,000 private sector jobs

March 03, 2010

The U.S. lost an estimated 20,000 nonfarm, private sector jobs in February on a seasonally adjusted basis, according to Automatic Data Processing Inc.'s (NYSE: ADP) monthly employment report released today.

However, the report said its estimate of jobs lost likely will differ from numbers slated for release Friday from the U.S. Bureau of Labor Statistics. Winter storms on the East Coast during February are expected to depress BLS numbers for the month but will likely boost the BLS' numbers for March. The winter weather had only a small impact on the ADP report.

The ADP report said service-sector jobs rose by 17,000 in February while employment in the goods-producing sector fell by 37,000. Despite the overall loss in the goods-producing sector, the report said manufacturing employment rose in February for the first time since January 2008 by adding 3,000 jobs.

ADP also revised its estimate of jobs lost in January to 60,000 from its previous estimate of 22,000.