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Posted AT 8:42 AM EST on 05/11/08

U.S. private sector cuts 157,000 jobs

Reuters

NEW YORK — U.S. private employers cut a larger-than-expected 157,000 jobs in October, a report by a private employment service said on Wednesday. ADP Employer Services also said it revised the number of jobs lost in September to 26,000 from the originally reported loss of 8,000. ADP said the private sector job losses in October were the highest since November 2002.

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