Real Time Economics : ADP Reports 693,000 Private-Sector Jobs Lost in December

The recession began in December 07



Real Time Economics : ADP Reports 693,000 Private-Sector Jobs Lost in December: "Private sector jobs fell 693,000 in the U.S. in December, according to a revamped national employment report published Wednesday by payroll giant Automatic Data Processing Inc. and consultancy Macroeconomic Advisers.
That’s far higher than the 515,000 loss forecast in a Dow Jones Newswires survey.
The December ADP survey is the first to incorporate a major overhaul of the methodology, including new regressions. The changes were introduced because the ADP survey has underestimated the monthly number of job losses as reported by the Bureau of Labor Statistics since the recession began in December 2007."