The ADP National Employment Report is very unofficial, but it does count for something. The payroll company says finds that the economy lost 371,000 nonfarm jobs from June to July 2009. From the report:
July's employment decline was the smallest since October of 2008 and continues the notable improvement between the first and second quarters of 2009. Nevertheless, despite recent indications that overall economic activity is stabilizing, employment, which usually trails overall economic activity, is likely to decline for at least several more months, albeit at a diminishing rate.
The last ADP report, covering the change from May to June, showed a decline of 463,000 nonfarm jobs. On Friday, the Bureau of Labor Statistics reveals its latest employment report. The general trend in new job loss is downward, even if the overall unemployment rate continues to rise.
In less encouraging news, the outplacement firm of Challenger, Gray and Christmas says the number of announced job cuts rose from June to July by 31 percent, to 97,373. You can follow the number of mass layoffs, meaning 50 or more people, at the BLS — it's been a series of small peaks and valleys since February.
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