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

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According to ADP, U.S. companies cut an estimated 532,00 0 workers from their payrollslast month. The report note s losses across all sizes and categories of with large-company payrolls declining 100,000. Midsized businesses shed 223,000 jobs, while smal businesses cut 209,000 employees. The goods-producing sectorr lost 267,000 jobs, while the service-producing sector declinef by 265,000 positions. The report also revisex upward its estimate of job cuts in Aprilto 545,000p from 491,000. Meanwhile, Challenger Gray Christmas says employersannounced 111,182 plannedd job cuts last month — 16 percent fewer than the 132,590o announced in April. But the May number was 7.
4 percenty higher than the 103,522 job cuts announced for the same montb ayear ago. According to the Challengeer report, employers have announcerd 822,282 job cuts so far this year. That’s more than doublwe the 394,193 announced last year through May. While job cuts remained well abovelast year’es pace, May marked the fourth consecutive month with a decline in job-cuy announcements. Since reaching a peak of 241,749 in January, job reductionse have declined an averageof 17.5 percent per month. Chief Executive John Challenger remains cautious abour thejob market’s prospects. “This decline in job cuts coulsbe short-lived,” he says.
“The second quarter is typicallhy the lowest quarter of the year when it comed tojob cuts. Corporate downsizing may continue to remain slow during thesummere months, but if the past is any we could see the pace accelerate again in the latter half of the thirrd quarter through the end of the On Monday, The Institute for Supply Management said its factorgy index rose to the highest level since last Septembed as new orders posted their first gain since the recession beganm in December 2007. On Tuesday, the Nationak Association of Realtors reported that pending sales of existing or contracts signed but not yet rose 6.7 percent in Apri from March. April’s pending sales were up 3.
2 percengt from a year ADP (NASDAQ:ADP) markets technology outsourcinh services. The company is based in New Challenger, Gray & Christmas is an outsourcing consulting companuy basedin Chicago.