The ADP Employment Report was released this morning. 22,000 jobs were lost in Janaury 2010. This was slightly better than the expected print of 30,000 job cuts but not far from consensus. From the release ... Nonfarm private employment decreased 22,000 from December 2009 to January 2010 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from November to December 2009 was revised by 23,000, from a decline of 84,000 to a decline of 61,000. The January employment decline was the smallest since employment began falling in February of 2008." January’s ADP Report estimates nonfarm private employment in the service-providing sector increased by 38,000, the second consecutive monthly increase. However, this employment...(read more)

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