Payroll services company ADP estimated that 169,000 jobs were lost in November. The number – the lowest since July – suggests that jobs are still disappearing but at a slower rate than earlier in the year.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re going to see job losses extend well into 2010,Ã¢â‚¬Â said Ryan Sweet, a senior economist at MoodyÃ¢â‚¬â„¢s Economy.com in West Chester, Pennsylvania, who forecast a loss of 178,000 jobs. Ã¢â‚¬Å“The labor market is crawling towards stabilization. We need the labor market to improve to generate the wage income necessary to support spending.Ã¢â‚¬Â
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