ADP Jobs Report: Losses Are Decelerating
The U.S. private sector eliminated 532,000 jobs in May, the fewest jobs lost since November according to the ADP employment index released this morning.
The pace of job cutting has slowed down in recent months, from an average of 691,000 in the first three months of the year to 539,000 over the past two months. More than 500,000 jobs have been lost in each of the past seven months.
Discussing the ADP report on CNBC are David Rosenberg, Gluskin Sheff & Associates; Rich Berg, Performance Trust Capital; Fred Malek, Thayer Lodging Group and CNBC's Rick Santelli.
Posted on June 3, 2009
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