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Automatic Data Processing Inc., a payroll processing giant, says the U.S. economy probably lost 371,000 jobs in the non-farm private sector in July. That's a bit more than the Bloomberg News estimate of 350,000 jobs, according to this story.
In partnership with Macroeconomic Advisers LLC, ADP bases its estimate on actual payroll data. In February and June, the ADP estimates were particularly close to the actual change in private-sector employment as measured by the BLS. They were particularly far off the mark in January and May.
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