May 7, 2009

In the News: Unemployment Might Be Slowing

The ADP National Employment Report was released yesterday, showing a possible slowing in the number of layoffs during the month of April. For April, the ADP is reporting that 491,000 private sector jobs were loss — no doubt a huge number, but a slowing from the predicted 600,000 plus expected to be lost. It’s also a significant improvement over last month, when the ADP reported a loss of 708,000 jobs.

An unofficial gauge of the private labor market, the ADP Report typically comes out a few days before the Bureau of Labor Statistics reports its official unemployment numbers for the previous month. Be sure to stay tuned for Friday, when I will let you know how the federal government says we are doing in terms of unemployment.

What do you think? Are you seeing an upswing in the job market out there? Or is it still too soon to tell?


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