473,000 People Add To Number of Jobless In June

 A recent survey by the ADP payroll company showed that the US private sector have cut the number of employees reaching to some 473,000 in June. The Survey Company attributed the job cuts to continue labor market weakness despite the strong signs of economic recover.

However, ADP said that the number of job loss in June is lower than last month’s 485,000. The number of jobless in May was actually revised from the previous figure to some 532,000.

Analysts are also seeing a slow down in the number of job cuts compared to April, May, and June’s figure, which averaged at around 492, 000. They said that there is a notable improvement in the labor industry during the first quarter of 2009, where monthly job loss averaged to more than 691,000.

The ADP National Employment report stressed a notable sign of a decline for the next several months. Although, the company said that it may come in a slow pace, saying that the public should expect more job cuts but in a contained number.

The ADP survey was released a day before the government report this June. The much awaited government report is expected to provide a bird’s eye-view on the latest in the world’s economy and how the US market is reacting to the recession.