Private companies in the US slashed as many as 10,000 jobs in August, in yet another indication that economic recovery is faltering.
The ADP National Employment Report released on Thursday showed that the American private sector cut 10,000 jobs last month, with most of the industries reducing their head count.
Figures in the report does not include the temporary hiring made by the Federal government for census activities.
The report is maintained by Macroeconomic Advisers, LLC.
"The decline in private employment in August confirms a pause in the recovery already evident in other economic data... This month's decline in employment followed six monthly increases from February through July," Macroeconomic Advisers' Chairman Joel Prakken said.
Last month employment in goods manufacturing sector dropped by 40,000 in US. Construction and manufacturing industries saw the loss of 33,000 and 6,000 jobs, respectively
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