Washington, Feb 4 (Prensa Latina) The US private sector cut 522,000 jobs in January.
The private consulting firm Automatic Data Processing (ADP), number layoffs in manufacturing at 243,000 and 279,000 in services.
ADP says large companies slashed 92,000 jobs, mid-size companies 255,000 and small companies lost 175,000.
The firm also reported fewer hirings in December as compared to November 2008; the real numbers are 659,000, not 693,000 as first claimed.
The report is considered a preview of the expected monthly review on non farming payrolls. Also US household consumption declined last December for the sixth consecutive month, this time by 1.0 per cent compared to November.
In an effort to improve the government image amid the national crisis, President Barack Obama said Wednesday he will limit the salaries of the executives from companies getting economic aid.
Obama says Washington will not reward failing companies, especially with US taxpayers’ money.
The president’s strategy is aimed at tying corporate salary to risk and their long-term growth.
The Democrat president recently called the bonuses several companies gave their executives in 2008 despite the critical economic situation shocking and irresponsible.
Domestic companies granted more than $18 billion in bonuses in 2008, in a period when, Obama said, they were about to collapse and sought federal bailout.