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ADP: Private Employment Decreased 169,000 in November

By Anonymous

ADP reports:

Nonfarm private employment decreased 169,000 from October to November 2009 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from September to October was revised by 8,000, from a decline of 203,000 to a decline of 195,000.

Note: ADP is private nonfarm employment only (no government jobs).
The BLS reported a 190,000 decrease in nonfarm private employment in October (also -190,000 total nonfarm), and ADP originally estimated October private nonfarm employment losses at 203,000; so ADP was pretty close to the BLS number last month.

On the Challenger job-cut report from Bloomberg: U.S. November Job Cuts Fall 72% From Year Ago, Challenger Says

Planned firings fell 72 percent in November to 50,349 from 181,671 during the same month last year, Chicago-based placement firm Challenger, Gray & Christmas Inc. said today. Announcements were down 9.6 percent from October. ... The level of announced job cuts was the lowest since December 2007, Challenger said.

The BLS reports Friday, and the consensus is for 100,000 net jobs lost, and a 10.2% unemployment rate for November.

Full post as published by Calculated Risk on December 02, 2009 (boomark / email).