RTRS: Private sector shed 693,000 jobs in December
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, a report by a private employment service said on Wednesday.
The median of estimates from 20 economists surveyed by Reuters for the ADP Employer Services report was for 473,000 private-sector jobs lost in December.
The report for December was the first month the data was issued using a new methodology, which ADP said was designed to more closely predict the outcome of the government's non-farm payrolls report.
The report is jointly developed with Macroeconomic Advisers LLC.
