Private employers continued to cut jobs in October, although the losses were less than those reported in the previous month.

   An ADP Employer Services report reveals an estimated 203,000 jobs were slashed in October.

   The payroll company says October represents the seventh consecutive month in which the drop in employment was less than that reported in the previous month.

   Small businesses reported their smallest employment losses since July of 2008.

   ADP predicts that despite recent signs of overall economic improvement, employment numbers are likely to decline for "at least a few months."  The company says employment is a trailing indicator that lags behind overall gains.

   The ADP survey only reports non-farm private employment numbers.

   It is based on payroll data and does not include hiring by government agencies.



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