ADP Employment Report Shows Surprise Job Loss

Roseland, NJ, March 31, 2010--Private sector companies in the U.S. cut 23,000 jobs in March, according to the ADP employment report released Wednesday.

The decline in ADP employment was a complete surprise to economists, who had forecast a gain of 40,000 in March.

The report comes two days before the Labor Department reports on nonfarm payroll growth for March.

The consensus forecast of Wall Street economists is for an increase of 189,000 in nonfarm payrolls.

Many economists expect a surge in federal workers related to the census. The ADP report does not include federal workers.

The report showed that goods-producing industries lost 51,000 jobs, while service-producing industries gained 28,000 jobs.

Large firms cut 7,000 jobs, medium-sized firms shed 4,000 jobs and small firms reduced their payrolls by 12,000 jobs.