ADDITIONAL 254,000+ JOBS LOST IN U.S. IN SEPTEMBER, PER A.D.P. OFFICIAL TOTAL ABOUT 24 MILLION UNEMPLOYED-UNDEREMPLOYED

BIZ INDIA Editor's Note -
Automatic Data Processing (ADP is a $9 billion (annual revenues) payroll services firm with hundreds of its clients employing some 570,000 people. It issues monthly reports on employment and unemployment statistics. Below is their report on job losses in the U.S. in September, 2009

The Bureau of Labor Statistics reports that there were "a total of 14.9 million persons were unemployed in August...Among the employed, there were 9.1 million persons working part time in August who would have preferred full-time work." This makes 24 million unemployed-underemployed which represents 1 in every 6 employable people in the U.S.

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ADP Report:
Nonfarm private employment decreased 254,000 from August to September 2009 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from July to August was revised by 21,000, from a decline of 298,000 to a decline of 277,000.

Source: ADP
September’s employment decline was the smallest since July of 2008 and employment losses have diminished significantly over the last two quarters. Nevertheless, employment, which usually trails overall economic activity, is likely to decline for at least several more months, with losses continuing to diminish.

About ADP Employment Reports:
The ADP National Employment Report® is a measure of nonfarm private employment, based on a subset of aggregated and anonymous payroll data that represents approximately 400,000 of ADP's 500,000 U.S. business clients and roughly 23 million employees working in all 19 of the major North American Industrial Classification (NAICS) private industrial sectors.

The ADP National Employment Report was developed to help meet the need for additional timely and accurate estimates of short-term movements in the national labor market among economists, financial professionals, and government policy-makers.

Because ADP pays 1-in-6 private sector employees in the United States every pay period across a broad range of industries, firm sizes, and geographies, it has a unique and significant perspective on the U.S. labor market.