(The Times - U.K.)

US private employers sacked 473,000 workers in June, while mortgage applications hit a seven-month low, raising fears that America was not recovering from its recession as well as previously thought.

Private sector job losses, calculated by ADP Employer Services, were worse than the 393,000 that economists had predicted in a Reuters poll but not as bad as the 485,000 sackings in May.

Joel Prakken, chairman of Macroeconomic Advisers, whose firm worked on ADP's survey, said that he expected a further 800,000 to one million job losses this year.
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