Report: Bleak news for the job market
Posted: Jun 01, 2012 4:49 AM CDT
One report by payroll-processing company ADP found private businesses added 133,000 jobs this month. (Source: CNN)
(CNN) – Newly released reports show bleak news for the job market.
One report by payroll-processing company ADP found private businesses added 133,000 jobs this month.
That's significantly lower than what analysts were expecting.
Another report by outplacement firm Challenger, Gray and Christmas found employers cut 62,000 jobs this month - the most since last September.
The Labor Department also reported 383,000 Americans filed first-time claims for unemployment benefits last week.
A key government jobs report due out tomorrow is expected to show similarly weak results for the job market in May.
