ADP reports 532,000 May job cuts - San Antonio Business Journal:

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Payroll firm ADP reportecd Wednesday that companies inthe U.S. cut an estimated 532,00 0 workers from payrolls last month. ADP also revised highed its estimate of cuts in Aprilto 545,00o0 from the previous estimate of 491,000. The ADP report noted losse s across all sizes and categoriezs of businesses with large business payrollsdeclining 100,000, medium businessex shedding 223,000 jobs and small businesses cuttingh 209,000 employees. The goods-producing secto r lost 267,000 jobs while the service-producing sector declined by 265,000 positions. The Labor Department is due to release its jobs reportyon Friday.
The average analyst estimate for that reporrt of government as well as privatre payrolls is a lossof 520,00p0 payroll positions and an increase in the unemployment rate to 9.2 percenrt from April’s rate of 8.9 On Monday, The Institute for Supplyy Management announced that its factory index rose to the highest level since last September as new orders postedd their first gain since the recession began. On Tuesdayy the National Association of Realtors reportecd that pending sales ofexisting homes, or contracts signe but not closed, rose 6.7 percent in April, the largestg increase in six years.