Several thousand job seekers line up to speak to prospective employers. -- PHOTO: REUTERS
WASHINGTON - THE US private sector shed 742,000 jobs in March as employers slashed payrolls amid prolonged recession, payrolls firm ADP said on Wednesday.
'The sharp employment declines among medium- and small-size businesses indicate that the recession continues to spread aggressively beyond manufacturing and housing-related activities to almost every area of the economy,' the firm said in a report.
'Nonfarm private employment decreased 742,000 from February to March 2009 on a seasonally adjusted basis,' the ADP National Employment Report said.
It revised the estimated change of employment from January to February, from a decline of 697,000 to a decline of 706,000. -- AFP
