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US lost 697,000 jobs in January

The January ADP National Employment Report came out this morning, with bad news about American businesses and workers.

Nonfarm private jobs, seasonally adjusted, fell 697,000 in January. At the same time, ADP revised its December 2008 report downward by 92,000 jobs. The new December total is 614,000. According to the report:

February’s ADP Report estimates nonfarm private employment in the service-providing sector fell by 359,000. Employment in the goods-producing sector declined 338,000, the twenty-sixth consecutive monthly decline. Employment in the manufacturing sector declined 219,000, its thirty-sixth consecutive decline.

Large businesses, defined as those with 500 or more workers, saw employment decline 121,000, while medium-size businesses with between 50 and 499 workers declined 314,000. Employment among small-size businesses, defined as those with fewer than 50 workers, declined 262,000.

Sharply falling employment at medium- and small-size businesses clearly indicates that the recession is spreading aggressively beyond manufacturing and housing-related activities.

On February 6, Statistics Canada reported a fall in employment of 129,000 in January. February employment figures will be released on March 13.

Last week, StatsCan issued preliminary numbers for December 2008 earnings, stating that average weekly earnings that month were $801.92 - down 0.1% from November. Over the full year of 2008, earnings had risen by 2.7%.

Crawford Kilian is a contributing editor of The Tyee.

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