Employment numbers continue to drop in October, says ADP
Thursday, November 05, 2009 12:12 AM
A new report has revealed that while employment figures continued to decline into the fourth quarter of 2009, conditions steadily improved in what is likely a positive sign for those worrying about their finances as they consolidate debt.According to ADP's National Employment Report, nonfarm private employment figures decreased by 203,000 from September to October on a seasonally adjusted basis. The decline was 24,000 less than the revised employment decrease of 227,000 found from August to September, representing the seventh straight month that the decline in employment was less than the month prior.
The report also found that the largest decline in employment had been seen in the goods-providing sector, which lost 117,000 jobs. The service-providing sector saw the second largest decline, losing 86,000 jobs while the manufacturing sector saw a drop of 65,000.
However, despite the losses, some experts have seen a reversal in some sectors that are now looking to add workers.
"Since Labor Day, we have seen a dramatic increase at the executive level in start-ups to publicly traded companies in the information technology and clean technology sectors," said Charley Polachi, a partner at Polachi Access Executive Search Firm.
He added that the increase had been more pronounced on the West Coast than the East Coast, and that similar growth had been seen in the tech market for general management and sales at the executive level as well.
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