US Private Sector Job Losses Accelerate in March

New economic data show unemployment could be worsening in the private sector and manufacturing activity shrinking for a 14th consecutive month.

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A report released Wednesday by U.S. payroll firm ADP says private sector job losses rose to an estimated 742,000 in March from 706,000 in February. Analysts had expected private sector layoffs to decline in March to about 663,000. ADP says U.S. companies slashed their payrolls across all sectors of the economy in response to a deepening recession. The latest U.S. government jobs report showed the unemployment rate jumped in February to a 25-year high of 8.1 percent. More...

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