Wednesday, March 31, 2010

Private sector cut 23,000 jobs in March

By Caroline Valetkevitch

updated 9:27 a.m. ET, Wed., March. 31, 2010
NEW YORK - Private employers unexpectedly shed more jobs in March, dimming hopes for job growth ahead of Friday's key employment report, while business conditions in New York City slipped.

Private employers cut 23,000 jobs in March, missing expectations for an increase in jobs although fewer than the adjusted 24,000 jobs lost in February, a report by a private employment service said on Wednesday.

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In other data, mortgage applications rose in the latest week for the first time in three weeks as demand for home purchase loans reached the highest level since October.


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