23,000 steps backward, 6,000 steps forward. PROGRESS!
Private employers unexpectedly shed jobs in March, dampening hopes about the strength of the recovery two days before the more closely watched government payrolls report.
In addition, U.S. Midwest business activity expanded less than expected in March while a gauge of New York City business conditions fell, separate reports showed on Wednesday.
U.S. private employers cut 23,000 jobs in March, missing expectations for an increase in jobs, but the decline was slightly less than the losses in February, according to the data by a payroll processing company.
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