US firms cut more than 157,000 jobs
According to the payroll data showed on Nov 5, US companies cut about 157,000 jobs last month, which were more than forecast.
ADP Employer Services said that the drop followed a revised 26,000 decrease in September that was larger than previously estimated.
Risks have started from automakers, financial and housing-related companies to retailers and other services as the economic situation been worse. Based on a Bloomberg News survey of economists, a government report in two days may show the economy lost jobs in October for a 10th consecutive month.
Michael Hanson, an economist at Barclays Capital Markets in New York, said before the report that the conditions of US labour-market are likely to continue worsening, and they hope to see the unemployment rate to climb.
According to the median estimate of 28 economists in a Bloomberg News survey, the ADP report was forecast to show a decline of 100,000 jobs, after an originally reported drop of 8,000 in September.
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