Wednesday, April 01, 2009

Still Very Bad

The official jobs report comes out Friday, but the private estimate of that number is out today.

Job losses in the U.S. private sector accelerated in March, more than economists' expectations, according to a report by ADP Employer Services Wednesday.

Private employers cut jobs by a record 742,000 in March versus a 706,000 revised cut in February that was originally reported at 697,000 jobs, said ADP, which has been carrying out the survey since 2001.