NEW YORK (Reuters) – U.S. private sector job losses accelerated in February, according to a report by ADP Employer Services on Wednesday that came in worse than economists' expectations.
ADP said private employers cut 697,000 jobs in February versus a revised 614,000 jobs lost in January. The January job cuts were originally reported at 522,000.
It was the biggest job loss since the report's launch in 2001.
Economists had expected 610,000 private-sector job cuts in February, according to the median of 23 forecasts in a Reuters poll.
http://news.yahoo.com/s/nm/20090304/bs_nm/us_usa_economy_employment_adp
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