Wednesday, September 1, 2010

ADP Points to Limited / No Employment Recovery

Marketwatch details:

U.S. private-sector employment fell 10,000 in August, according to the ADP employment report released Wednesday. "The decline in private employment in August confirms a pause in the recovery already evident in other economic data,"said Joel Prakken, chairman of Macroeconomic Advisers, which produces the report from anonymous payroll data supplied by ADP, in a statement. On Friday, the government is scheduled to report nonfarm payrolls for August, and economists polled by MarketWatch are looking for an overall decline of 105,000, including an expected increase of 25,000 jobs in the private sector.

Source: ADP

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