The flood is slowing–by a trickle. ADP, the paycheck company, reports an estimated 473,000 jobs were lost in the United States in June. That’s 35 percent less than the amount of lost jobs in March, when the bloodletting peaked, but only 2 percent less than the amount of lost jobs in May. Economists now estimate that the economy will start growing again later this year, but job losses are expected to continue into next year.
Here is a breakdown of the recent ADP nonfarm data, which can be viewed here. Official Labor Department data is due out in the coming days.
January 655,000 jobs lost
February 681,000 jobs lost
March 736,000 jobs lost
April 518,000 jobs lost
May 485,000 jobs lost
June 473,000 jobs lost