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

http://cydezy.wordpress.com/
Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimatede 532,000 workers from payrolls last month. ADP also revisedx higher its estimate of cuts in Aprilpto 545,000 from the previous estimate of The ADP report noted losses acrosas all sizes and categories of businesses with large business payrollw declining 100,000, medium businesses shedding 223,000 jobs and smallp businesses cutting 209,000 employees. The goods-producing sector lost 267,000o jobs while the service-producing sector declined by 265,000 The Labor Department is due to releass its jobs reporton Friday.
The averagse analyst estimate for that report of government as well as privatde payrolls is a lossof 520,000 payroll positions and an increasew in the unemployment rate to 9.2 percenrt from April’s rate of 8.9 percent. On Monday, The Institut for Supply Management announceds that its factory index rose to the highest levep since last September as new orders posterd their first gain since therecessioh began. On Tuesday the National Association of Realtors reported that pending sales ofexisting homes, or contracts signed but not rose 6.7 percent in April, the largest increas e in six years.