Jobapalooza Preview

ADP's job loss report for September is still pretty grim, another 254,000 jobs estimated lost.

The decline was greater than the 200,000 loss economists surveyed by Briefing.com had forecast. But the difference was "not statistically meaningful," according to Joel Prakken, an ADP spokesman and chairman of Macroeconomic Advisers, LLC.

"The pattern of improvement in headline number is undeniable at this point," Prakken said. Private sector payrolls will continue to decline at a slowing rate for the next few months before modest job growth resumes "in the first few months of 2010," he added.

Large businesses, those with 500 or more workers, let 61,000 workers go. Medium-sized businesses, with between 50 and 499 workers, shed 93,000 jobs. And small businesses, those with less than 50 workers, reduced payrolls by 100,000.

Small businesses held will continue to shed more workers than larger and medium-sized firms, Prakken said. That's because large businesses started shrinking payrolls earlier and therefore will recover sooner, he explained.

It's not statistically significant unless you're one of those 54,000 I suppose...or are somebody who is currently employed because of those 54,000...you get my drift.

Modest job growth in early 2010, huh?

Don't see that happening, frankly.