Nearly 700,000 Jobs Lost in February

Nearly 700,000 jobs in the private sector were lost in February, according to a report released Wednesday from payroll-processing company Automatic Data Processing (ADP).

Nearly 700,000 jobs in the private sector were lost in February, according to a report released Wednesday from payroll-processing company Automatic Data Processing (ADP).

Calculated on payroll data, the ADP report showed the private sector eliminated 697,000 jobs on a seasonally adjusted basis in February. That's an increase of 175,000 job cuts, or 25 percent, from the 522,000 job cuts reported in January.

Source:  CNNMoney.com,Private-Sector Payrolls Lose 697,000 Jobs

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