Steep drop in private-sector jobs-survey
Manufacturing slump paces larger-than-expected decline in ADP report.
NEW YORK (CNNMoney.com) -- The number of private sector jobs fell by 79,000 in June, according to a payroll report released Wednesday, with the decline exceeding economists' forecasts.
The National Employment Report from Automatic Data Processing showed a 76,000-job drop for goods-producing businesses, the 19th monthly decline in a row, coupled with a 3,000 job decline in the services sector.
A majority of the production job losses came from the manufacturing sector, which lost 44,000.
Economists polled by Briefing.com had expected jobs to decline by 20,000 in June.
The ADP report measures non-farming private employment based on payroll data.