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U.S. Lost 20,000 Private Sector Jobs in February

03/03/2010
The February ADP Report indicates that private employers reduced employment rolls by 20,000 jobs in February, the smallest decline in employment since February 2008. The previous month's job loss was 60,000.

Big businesses, having more than 500 employees, saw an employment dip of 10,000, while smaller companies, those with less than 50 workers, saw a decline of 18,000, according to the report. Employment was up among mid-sized companies by 8,000. That's the first increase since a year ago January.

In January, the construction segment saw employment drop 41,000, the smallest dip since July 2008 and employment in the financial services segment dropped 6,000.
 
February's ADP Report states that employment in the manufacturing sector increased by 3,000, the first growth seen in the manufacturing sector since January of 2008.

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