Private Companies Cut 532,000 Jobs
Posted on | June 3, 2009 | No Comments
According to the ADP National Employment Report, privately-owned businesses cut 532,000 jobs between April and May. Private companies in the service-producing sector cut 265,000 jobs, while goods-producing companies cut 267,000. Medium-sized businesses (50-499 employees) cut the greatest number of jobs with employment declining by 223,000. Small businesses (0-50 employees) cut 209,000 jobs, and large businesses (500+ employees) cut 100,000 jobs.
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