Payroll report: Nation loses 33,000 jobs in AugustGo To Original
A national report released Thursday finds that the private sector shed 33,000 jobs in August.
The decline was lead by a drop of 78,000 jobs among goods-producing companies -- the 21st consecutive monthly decline, according to payroll manager Automatic Data Processing Inc. The service sector, however, gained 45,000 jobs in August.
Companies with 500 or more workers cut 28,000 jobs in August and companies with between 50 and 499 employees cut 25,000 jobs. Businesses with less than 50 workers added 20,000 employees in August, after adding a revised 46,000 jobs in July.
ADP's August numbers reflect a sharp turn from July, when the private sector gained 1,000 jobs, spurred by a boost in small business employment. The July reading, however, was revised down from an increase of 9,000 jobs.
Data used in the ADP National Employment Report represents averages from the company's payroll figures representing 24 million U.S. employees.
The U.S. Department of Labor will release its August employment figures Friday.