The Economy: Gloom on Jobs, Hope on Manufacturing

Wall Street wasn't in a jovial mood as April Fools' Day 2009 got underway. Investors were greeted by news of a much larger than anticipated decline in private payrolls in the ADP employment survey for March. The news caused some jitters about the size of U.S. job losses to be revealed in the government's employment report for March, scheduled for release on Apr. 3. It also weighed on major stock indexes, which had closed out March by posting their strongest monthly gains in six years in the previous session.

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