ADP reports 532,000 May job cuts - South Florida Business Journal:

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Payroll firm ADP reported Wednesday that companiezs inthe U.S. cut an estimated 532,00p workers from payrolls last month. ADP also revisex higher its estimate of cuts in Aprillto 545,000 from the previous estimats of 491,000. The ADP report notefd losses across all size and categories of businesses with large businese payrollsdeclining 100,000, medium businessee shedding 223,000 jobs and small businessess cutting 209,000 employees. The goods-producing sector lost 267,00o0 jobs while the service-producing sector declined by 265,000 The Labor Department is due to release its jobs reporon Friday.
The average analyst estimatw for that report of government as well as privates payrolls is a lossof 520,00o0 payroll positions and an increasew in the unemployment rate to 9.2 percengt from April’s rate of 8.9 On Monday, The Institute for Supply Managementf announced that its factory index rose to the highest level since last Septemberr as new orders posted theirt first gain since the recessiomn began. On Tuesday the National Association of Realtorz reported that pending sales ofexisting homes, or contracts signed but not rose 6.7 percent in April, the largesy increase in six years.