ADP: Economy Lost 8,000 Jobs Last Month

On Friday, the Labor Department will release its monthly numbers for U.S. payrolls. Analysts expect that report to show a much steeper drop.

Author:: TSC Staff
Publish date:: Oct 1, 2008 8:44 AM EDT

Nonfarm private employment in the U.S. decreased by 8,000 from August to September, according to data from the

ADP

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National Employment Report released Wednesday.

The estimated change from July to August was revised downward from a decline of 33,000 to a drop of 37,000.

September's report continues to offer evidence of a weak labor market, ADP said in a press release. The report, the company said, doesn't reflect two factors that might have further depressed employment last month -- the continuing machinists' strike at

Boeing

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and jobs lost as a result of hurricanes that hit the Gulf Coast.

The loss in jobs was driven by the goods-producing sector, which surrendered 72,000 workers in September. The manufacturing sector specifically shed 48,000 jobs. However, the service sector had a gain of 64,000 jobs.

On Friday, the Labor Department will release its monthly numbers for U.S. payrolls. Analysts expect that report to show a much steeper drop than the ADP figures.

This article was written by a staff member of TheStreet.com.