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ROSELAND, NJ-The private sector in the US last month lost 742,000 jobs, certainly a figure that doesn’t bode well for commercial real estate. The hardest-hit industry, according to the locally based ADP National Employment Report, was the service-providing sector, which lost 415,000 jobs.

The goods-producing sector lost 327,000 workers. Within those two sectors, 206,000 jobs in the manufacturing industry were lost, while 118,000 construction jobs were shed.

Medium businesses, with payrolls of 50 to 499 workers, had the largest cutbacks and lost 330,000 jobs. Small businesses, with one to 49 employees, let go of 284,000 in total, while large business employing more than 500 cut 128,000 workers.

For the construction industry, it was the 26th month in a row of declines, bringing its total job loss to just over 1.1 million since January 2007. Meanwhile, manufacturing has had declines for 37 consecutive months.

The numbers reflect GlobeSt.com’s reports last month, including Rheem Manufacturing closing a plant outside of Atlanta; chip maker National Semiconductor laying off 1,700 in Santa Clara, CA; and United Technologies Corp. cutting back 5% of its nationwide workforce, among others.

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