According to the Non-Farm Payroll employment report released by employer services company ADP this morning, the US economy lost 203,000 jobs compared to earlier estimates of 198,000. The actual loss was less than last month’s revised figure of 227,000, suggesting that unemployment is still on the rise, but it is doing so at a slower pace.
“While the economy has resumed growing, the labor market is in rough shape,” Joseph Brusuelas, a director at Moody’s Economy.com in West Chester, Pennsylvania, said before the report. “Businesses appear hesitant to boost staff until the recovery matures.”
