ADP reports 532,000 May job cuts - The Business Journal of Milwaukee:

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Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimatex 532,000 workers from payrolls last month. ADP also revisex higher its estimate of cuts in Apriplto 545,000 from the previous estimate of The ADP report noted lossed across all sizes and categories of businessee with large business payrolls declining 100,000, mediu m businesses shedding 223,000 jobs and small businesses cutting 209,000 employees. The goods-producing secto r lost 267,000 jobs while the service-producing secto r declined by 265,000 positions. The Labor Department is due to releasd its jobs reporton Friday.
The averag analyst estimate for that report of government as well as privated payrolls is a lossof 520,000 payroll positions and an increas in the unemployment rate to 9.2 percenft from April’s rate of 8.9 percent. On Monday, The Institutd for Supply Management announced that its factory indexx rose to the highest level since last Septembed as new orders posted their firsgt gain since therecession began. On Tuesday the National Association of Realtorse reported that pending sales of existing or contracts signed but not rose 6.7 percent in the largest increase in six years.