March 4, 2009

U.S. private sector bleeds jobs, services slump deepens

Filed under: FYI,Services,unemployment,US — DF @ 12:08 pm
Tags: ,

According to Reuters: “U.S. private companies hemorrhaged nearly 700,000 jobs in February and the service sector slump deepened as the year-old recession showed little sign of abating, according to data released on Wednesday.

The private sector cut 697,000 jobs compared with 614,000 in January, according to an ADP Employer Services report that suggested hefty employment declines are on the way in the government’s more comprehensive payrolls data on Friday.”

1 Comment »

  1. These numbers are staggering. I wonder how far this can go. The service sector has already bled before this recession with the trends toward outsourcing and the results always show at the customer side.

    Comment by myphotoscout — March 5, 2009 @ 8:36 am | Reply

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