September job cuts steeper than expected

Posted Sep 30th 2009 11:40AM by Michael Fowlkes
Filed under: Forecasts, Bad News, Employees, Market Matters, Recession

september job losses Job losses continued to mount in September. Unfortunately, the numbers are even worse than expected.

According to the ADP National Employment Report, employers shed 254,000 jobs in September. Analysts had been expecting to see the number of job losses at 200,000 in the month.

The good news is that the September figures are the lowest that we have seen since all the way back in July 2008. It is expected that unemployment will continue to mount for some time to come, but as long as monthly losses continue to shrink it is a good sign that things are improving.

Large companies, those with more than 500 employees, shed 61,000 jobs in the month, which was about on par with the numbers lost in August. Mid-sized companies however, those with 40 to 499 employees, did much better than the previous month, with only 93,000 lost jobs in the month. These companies saw losses of 116,000 months in August. Small companies also saw reductions in job losses, with only 100,000 losses in September compared to 122,000 in August.

Official unemployment numbers will come on Friday when they are released by the Labor Department. We will probably see a different number in the Labor Department's report, which also includes employment figures in the public sector. That report is expected to show 170,000 job losses, so a bit less than we see in today's report.

Tags: ADP, employees, featured, inthenews, job losses, jobs, Labor Department, unemployment

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Reader Comments (Page 1 of 1)

9-30-2009 @ 11:58AM

Taylor said...

The latest job stats are not encouraging, but for those looking for employment during these troubled times, research is key to landing the right job. Many publications show different categories for the best companies to work for. Also, another worthwhile site is SalaryFor.com http://www.salaryfor.com/
which has a huge database of actual salaries that companies are paying for different positions as well as career advice and job listings.

9-30-2009 @ 12:00PM

steve said...

No employer in their right mind is going to hire, thus increasing ther exposure to what Barack and the Bozos(congress) are dreaming up. Any smart employer is clearing out as much dead wood as possible, and will keep a low profile until we can see how bad we're gonna get it in the ass from these fools. The best thing you unemployed people can do is march on Washington and tell those jackasses to get out of the way of you finding a job.

9-30-2009 @ 12:09PM

Dwayne W. Mauk said...

The sad thing is that companies are using the recession as a way to shed high priced employees and restructure with the intent of hiring later on at a lower cost to them. In the meantime, there is a problem with workers being out of work and not spending which is compounding things. Even though I still have a job, we have cut our personal expenses so much that we have cut our credit card debt by 1/6th already. What does that mean? Well, it means that we have pulled over $5000 out of the economy by not spending, and sending it to the banks who are charging us an exorbent interest rate. By the way, I don't believe for a moment that Bernanke or Guitner care a wit about the economy and the consumer spending - not with the way the banks are getting cash from the government at below 1% rates but charging the consumers 23 - 30% rates.

9-30-2009 @ 12:10PM

Warren said...

steve

Yes, because what we've been doing so far has worked so well. Grow up.

9-30-2009 @ 12:12PM

Connie said...

Where are all those jobs that $787 BILLION spending bill was suppose to create? Maybe its time washington stops ILLEGAL IMMIGRATION & HANDING OUT MILLIONS OF VISAS EACH MONTH!!! Now they're importing teachers from other countries!!! ENOUGHS ENOUGH!!! PUT AMERICA BACK TO WORK!!!