Economic Indicator Means More Lousy News Tomorrow

Jillian Bandes | October 07, 2010 8:16 AM

This is not good news ahead of the Friday jobs report.

Private employers unexpectedly cut 39,000 jobs in September after an upwardly revised gain of 10,000 in August, a report by a payrolls processor showed on Wednesday.

The August figure was originally reported as a loss of 10,000.

This report is an indicator of what's to come before the U.S. Bureau of Labor Statistics announces their jobs report on Friday, which has become an increasingly ominous announcement as the economic meltdown continues.