')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 1st September, 2010, showed that the American private sector cut 10,000 jobs last month, with most of the industries reducing their head count.
The report is maintained by Macroeconomic Advisers, LLC.
Last month, employment in goods manufacturing sector dropped by 40,000. Construction and manufacturing industries saw the loss of 33,000 and 6,000 jobs, respectively.
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