US jobless soars as companies squeeze workers

Christine Seib
Times Online
September 2, 2009

[efoods]Private employers cut 298,000 American jobs last month, far above economists’ expectations, and squeezed more work out of staff over fewer hours.

The ADP Employer Services report on jobless numbers in August exceeded the 250,000 staff cuts economists had forecast.

Employees who kept their jobs worked even harder over shorter hours, according to the Labor Department today.

Revised productivity figures, which show the amount of output per hour of work done, rose by an annual rate of 6.6 per cent in the second quarter, the biggest rise in nearly six years.

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