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ADP report says U.S. lost 8,000 jobs

October 01 2008

The U.S. lost 8,000 private-sector nonfarm jobs in September, on a seasonally adjusted basis, according to the national employment report released today by Automatic Data Processing Inc. (NYSE: ADP). However, the number does not reflect the strike of 27,000 machinists at The Boeing Co. and job losses from Gulf Coast hurricanes, according to the report.

The goods-producing sector lost 72,000 jobs in September. That loss was partially offset by a gain of 64,000 jobs in the service sector.

Construction employment fell by 29,000 in September, according to the report. However, in financial activities, another area hit by the subprime mortgage crisis, employment still rose by 4,000.

The report also revised the decrease in employment in August to 37,000 from 33,000.

The report is based on data from ADP derived from an anonymous subset of roughly 500,000 U.S. business clients.


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