Private sector loses 250,000 jobs - report

Decline in payroll processor ADP's report is worse than expected.

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By Aaron Smith, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) -- The U.S. economy shed a quarter-million private-sector jobs in November, according to a payroll processor's report that was worse than economists expected.

Non-farm private employment fell by 250,000 jobs from the previous month on a seasonally adjusted basis, according to the ADP National Employment Report.

The report was expected to show a decline of 200,000 jobs in November, according to a consensus of economist projections compiled by Briefing.com.

"It's impossible to find any ray of light here," said ADP spokesman Joel Prakken in a conference call with reporters. "All of the major industries that we record had declines in employment."

The goods-producing sector lost 158,000 jobs last month, its 24th consecutive month of decline, according to the report. This includes 118,000 positions in manufacturing and 44,000 construction jobs.

The service industry shed 92,000 jobs, its second month of losses since the ADP reports began tracking employment in 2002.

Medium-sized businesses, with between 50 and 499 workers, were the hardest-hit part of the economy, hemorrhaging 130,000 jobs last month. Large businesses, with at least 500 workers, lost 41,000 jobs. Small businesses, with less than 50 workers, lost 79,000 positions.

Prakken said he expected to see "a string of very weak employment reports" going forward. He added that "declines in employment between 300,000 and 500,000 in the coming months would not surprise me."

The ADP also revised its reading for October, to a loss of 179,000 jobs from the previously reported loss of 157,000.  To top of page

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