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You are here News Economy U.S. Companies Cut 298,000 Jobs in August

U.S. Companies Cut 298,000 Jobs in August

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Companies eliminated more jobs than forecast in August, a private survey indicated today, signaling that employers have yet to gain confidence about a recovery from the deepest recession since the 1930s.

The 298,000 drop followed a revised 360,000 decline the prior month that was smaller than previously estimated, according to figures from ADP Employer Services.

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