US manufacturing job losses speeds up in February

Posted on 4 Mar 2009 by The Manufacturer

The US manufacturing sector lost 219,000 jobs in February, according to business outsourcing solutions firm Automatic Data Processing (ADP).

The total number of workers in goods-producing industries including manufacturers and construction companies to lose their jobs was 338,000 and this contributed to the loss of 697,000 jobs in the US as a whole during the second month of 2009.

The latter figure follows January’s cuts of 614,000, according to ADP’s data, which is sourced from pay-roll information from 400,000 businesses and 24 million workers.

Kurt Karl, chief U.S. economist at Swiss Re in New York, told Reuters: “We are still sinking. There is no sign of a bottom.”