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ADP Says US Lost 169,000 Jobs

Payroll services company ADP estimated that 169,000 jobs were lost in November. The number – the lowest since July – suggests that jobs are still disappearing but at a slower rate than earlier in the year.

“We’re going to see job losses extend well into 2010,” said Ryan Sweet, a senior economist at Moody’s Economy.com in West Chester, Pennsylvania, who forecast a loss of 178,000 jobs. “The labor market is crawling towards stabilization. We need the labor market to improve to generate the wage income necessary to support spending.”

Bloomberg

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March
15
Today’s Global
Market Events
7:30am

CAD
New Motor Vehicle Sales m/m
0.0% vs. 2.6%
USD
Empire State Manufacturing Index
20.3 vs. 24.9
8:00 am

USD
TIC Long-Term Purchases
37.9b vs. 63.3b
8:15 am

USD
Capacity Utilization Rate
72.7% vs. 72.6%
USD
Industrial Production m/m
0.1% vs. 0.9%
12:00 pm

USD
NAHB Housing Market Index
17 vs. 17
7:30 pm

AUD
Monetary Policy Meeting Minutes