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ADP National Employmeny Report

Productivity Up, Labor Costs Down, & ADP Might Not Be As Bad As It Seems

Productivity was revised up slightly for 2Q09 to +6.6% from +6.4%, while unit labor costs were revised down to -5.9% from -5.8%.  Additionally, the ADP employment survey indicated a loss of -298K jobs, compared to -360K last month.  This was worse than analyst’s estimates.  Nevertheless, the details behind the ADP report, like the rest of […]