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Non-farm private employment decreased a gargantuan 693,000 in December -- much worse than expected -- on a seasonally adjusted basis, ADP announced Tuesday in the ADP National Employment Report (pdf).Meanwhile, the November estimated change in employment was revised to a decrease of 476,000 from the previously-announced decrease of 250,000 jobs, ADP said.
Economists surveyed by Bloomberg News had expected the ADP report to show the loss of 495,000 private sector jobs in December.
Note: This month, ADP revised the report's methodology, hence economists say comparisons to November and prior month job reports are not recommended.
Manufacturing employment fell 120,000 in December -- its 27th consecutive monthly decline. Meanwhile, the service sector of the economy lost 473,000 jobs, the first back-to-back monthly job loss in the service sector since November 2002.
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