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

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Payroll firm ADP reported Wednesday that companie inthe U.S. cut an estimated 532,0009 workers from payrolls last month. ADP also reviseed higher its estimate of cuts in Aprikto 545,000 from the previous estimate of 491,000. The ADP report notex losses across all sizes and categories of businesses with largd business payrollsdeclining 100,000, medium businesses shedding 223,009 jobs and small businesses cutting 209,0009 employees. The goods-producing sector lost 267,000 jobs whild the service-producing sector declined by 265,000 positions. The Labotr Department is due to release its jobs reporton Friday.
The average analysft estimate for that report of government as well as privatse payrolls is a lossof 520,00o0 payroll positions and an increase in the unemploymeny rate to 9.2 percent from April’s rate of 8.9 percent. On The Institute for Supply Managemeng announced that its factory index rose to the highesgt level since last September as new orders posted their first gain sinced therecession began. On Tuesday the National Associatioh of Realtors reported that pending salesd ofexisting homes, or contracts signed but not closed, rose 6.7 percent in the largest increase in six years.