Companies in U.S. Unexpectedly Cut Jobs, ADP Says

Companies in the U.S. unexpectedly cut jobs in September, data from a private report based on payrolls showed today.

Employment decreased by 39,000, the biggest drop since January, after a revised 10,000 rise in August, according to figures from ADP Employer Services. The median estimate of 37 economists surveyed by Bloomberg News called for a 20,000 gain. Forecasts ranged from a decline of 44,000 to a 75,000 increase.