FXstreet.com (Barcelona) - U.S. economy as continued destroying employment at a unusually fast pace in January, according to the latest ADP Employment Report.

Non-farm private employment declined by 522,000 in January, following a 659,000 decline in December, revised down from the previously estimated 693,000 decline.

Employment in the services providing sector has dropped by 279,000 while in the goods producing sector there was a 243,000 decline, while the manufacturing sector lost 160,000 jobs.

Employment in the construction sector has posted a net loss of 83,000 jobs, this is the twenty second consecutive decline in the construction sector, since it peaked in January 2007, which adds to a total loss of 923,000 jobs in the sector.