December 3, 2008
A brief pause for roasted turkey and mashed potatoes marked the only relative bright spot in an otherwise bleak month for American workers. November was filled with financial concern and employment markets bleeding job losses at alarming rates, according to monthly reports released this week.
Private sector employment decreased by 250,000 in November, according to a monthly National Employment Report released Wednesday by Automatic Data Processing Inc. (ADP) in partnership with Macroeconomic Advisers LLC. The report is based on actual payroll data and measures the change in total non-farm private employment each month, according to the ADP.
Small business employment (representing payrolls with one to 49 employees) was down 79,000 in November. Medium business employment (50 to 499 employees on payroll) dropped 130,000, while large business employment fell 41,000. “Falling employment at medium and small firms clearly indicates that the recession has now spread well beyond manufacturing and housing-related activities,” said Macroeconomics chairman Joel Prakken in the report.
This article was posted: Wednesday, December 3, 2008 at 1:44 pm