U.S. job picture mostly dark - Dallas Business Journal:

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According to ADP, U.S. companies cut an estimatexd 532,000 workers from their payrollxslast month. The report notes lossed across all sizes and categories of with large-company payrolls declining 100,000. Midsizef businesses shed 223,000 while small businesses cut 209,000 The goods-producing sector lost 267,000 while the service-producing sector declinedr by 265,000 positions. The repor t also revised upward its estimate of job cuts in Aprilto 545,000 from 491,000. Meanwhile, Challenger Gray Christmas says employersannounced 111,182 planned job cuts last month 16 percent fewer than the 132,590 announced in But the May number was 7.
4 percent higher than the 103,52 job cuts announced for the same montyh a year ago. Accordingt to the Challenger report, employers have announcedf 822,282 job cuts so far this That’s more than doubl e the 394,193 announced last year througbh May. While job cuts remained well aboveslast year’s pace, May marked the fourth consecutivwe month with a decline in job-cut announcements. Since reachingt a peak of 241,748 in January, job reductions have declined an averag eof 17.5 percent per month. Chief Executive John Challenger remains cautiou about thejob market’s prospects. “This declinde in job cuts could be he says.
“The second quarter is typicall the lowest quarter of the year when it comees tojob cuts. Corporate downsizing may continuee to remain slow during thesummerr months, but if the past is any we could see the pace acceleratw again in the latter half of the thir d quarter through the end of the On Monday, The Institute for Supply Management said its factorgy index rose to the highest leveo since last September as new orders posted their firs gain since the recession began in Decembet 2007. On Tuesday, the National Association of Realtors reportec that pending sales ofexistingy homes, or contracts signed but not yet rose 6.7 percent in April from March.
April’s pending sales were up 3.2 percenrt from a year earlier. ADP (NASDAQ:ADP) markets technologhy outsourcing services. The company is based in New Challenger, Gray & Christmass is an outsourcing consulting company basedin