Chichot historii
/ 83.5.216.* / 2009-04-03 11:02
Based on ADP numbers for private sector lay-offs, the official government unemployment numbers could set an all-time record.
ADP says that payrolls dropped by 742,000 in March. The revised figure for February was 709,000. A copy of the entire report is available at this link.
The numbers are a stunning indication that the recession is, indeed, deepening, and that the hope of the last few weeks that it is bottoming are wrong.
Those being laid off covered every sector of the economy and were about even by company size. Large businesses, defined as those with 500 or more workers, saw employment decline by 128,000, while medium-size businesses with between 50 and 499 workers declined 330,000. Employment among small-size businesses, defined as those with fewer than 50 workers, declined 284,000.
The government unemployment rate could easily hit 8.5% or 8.6% when the data is released this week.