ROSELAND, NJ -- (Marketwire) -- 07/01/09 -- According to today's ADP National Employment
Report®, private sector employment decreased by 473,000 in June. The
ADP National Employment Report, created by ADP® Employer Services, a
division of Automatic Data Processing, Inc.
(ADP), in partnership with Macroeconomic Advisers, LLC, is
derived from actual payroll data and measures the change in total nonfarm
private employment each month.
Nonfarm Private Employment Highlights - June Report:
-- Total employment: -473,000
-- Small businesses* -177,000
-- Medium businesses** -205,000
-- Large businesses*** -91,000
-- Goods-producing sector: -250,000
-- Service-providing sector: -223,000
Addendum:
-- Manufacturing industry: -146,000
* Small businesses represent payrolls with 1-49 employees
** Medium businesses represent payrolls with 50-499 employees
*** Large businesses represent payrolls with more than 499 employees
According to Joel Prakken, Chairman of Macroeconomic Advisers, LLC,
"Nonfarm private employment decreased 473,000 from May to June 2009 on a
seasonally adjusted basis, according to the ADP National Employment Report.
Monthly employment losses in April, May, and June averaged 492,000. This
is a notable improvement over the first three months of the year, when
monthly losses averaged 691,000. Nevertheless, despite some recent
indications that economic activity is stabilizing, employment, which
usually trails overall economic activity, is likely to decline for at least
several more months, although perhaps not as rapidly as during the last six
months."
Prakken added, "June's ADP Report estimates nonfarm private employment in
the service-providing sector fell by 223,000. Employment in the
goods-producing sector declined 250,000, with employment in the
manufacturing sector dropping 146,000, its fortieth consecutive monthly
decline."
"Large businesses, defined as those with 500 or more workers, saw
employment decline by 91,000, while medium-size businesses with between 50
and 499 workers declined 205,000.
