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ADP Shows Private Employment Decreased 532,000 in May

By Anonymous

From ADP:

Nonfarm private employment decreased 532,000 from April to May 2009 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from March to April was revised by 54,000, from a decline of 491,000 to a decline of 545,000.
...
May?s ADP Report estimates nonfarm private employment in the service-providing sector fell by 265,000. Employment in the goods-producing sector declined 267,000, with employment in the manufacturing sector dropping 149,000, its thirty-ninth consecutive monthly decline.
...
In May, construction employment dropped 108,000. This was its twenty-eighth consecutive monthly decline, and brings the total decline in construction jobs since the peak in January 2007 to 1,345,000. Employment in the financial services sector dropped 32,000, the eighteenth consecutive monthly decline.

Note this is private employment only (not government). ADP tracks the BLS report over time, but is not a good predictor of the BLS numbers on a monthly basis.

Full post as published by Calculated Risk on June 03, 2009 (boomark / email).