Tags: Pace | Private | Sector | Job | Losses | Slows

Pace of Private Sector Job Losses Slows

Wednesday, 03 Feb 2010 09:02 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
NEW YORK  - The pace of job losses in the private sector slowed in January as employers reported the smallest payroll decline in nearly two years while demand for home loans hit a six-week high last week, data showed on Wednesday.

A report by ADP Employer Services showed the United States lost 22,000 private sector jobs last month, smaller than the 61,000 jobs lost in December and economists' forecasts for a 30,000 loss in January. December's decline was first reported at 84,000.

January's tally was the lowest since February of 2008, according to the ADP report, developed jointly with Macroeconomic Advisers LLC.

"The trend continues to get less worse. This is consistent with job growth returning in the United States," said Dave Sloan, senior economist at 4Cast Ltd in New York. "I do believe the U.S. economy is now strong enough to create jobs."

The ADP data comes two days before the government releases its more comprehensive nonfarm payrolls report, which is expected to show the economy added 5,000 jobs in January after shedding 85,000 the prior month.

In a separate report, the Mortgage Bankers Association said its mortgage index jumped 21 percent last week to a six-week high as borrowers moved to lock in rates before an expected push higher this year.

The 30-year mortgage rate dipped 0.1 percentage point to 5.01 percent, though that was still 0.40 percentage points above the record low set in March.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

ESPN Suspends Smith Over Domestic-Violence Remarks

Tuesday, 29 Jul 2014 22:19 PM

Walt Disney Co.'s ESPN sports network suspended commentator Stephen A. Smith for a week over remarks he made about domes . . .

Sheriffs: Border Crisis Hits South Texas Especially Hard

Tuesday, 29 Jul 2014 20:50 PM

The immigration border crisis is hitting southern Texas law enforcement particularly hard, straining resources and infli . . .

MSNBC Drops From Second to Fourth Place in Cable News

Tuesday, 29 Jul 2014 20:46 PM

MSNBC lost its second-place cable news position in July, falling to fourth place overall in the key demographic, behind  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved