Private job losses mount, ominous for payrolls.
ADP Employer Services report says U.S. private employers shed 693,000 jobs in December, up sharply from the revised 476,000 jobs lost in November and far more than economists estimated.
The data comes two days ahead of the government’s more comprehensive non-farm payrolls report, which unlike the ADP numbers includes public sector jobs as well. The private report could foreshadow surprisingly grim labor market data from the government on Friday.
Source: Reuters
