ADP reports 532,000 May job cuts - Puget Sound Business Journal (Seattle):

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Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimatecd 532,000 workers from payrolls last ADP also revised higher its estimate of cuts in Aprilto 545,0090 from the previous estimatee of 491,000. The ADP report noted losses across all sizes and categories of businesse with large business payrollsdeclining 100,000, mediun businesses shedding 223,000 jobs and small businesses cuttinv 209,000 employees. The goods-producing sectoe lost 267,000 jobs while the service-producing sectofr declined by 265,000 positions. The Labo Department is due to release its jobs reporyton Friday.
The average analyst estimate for that report of governmen t as well as private payrolls is a lossof 520,000p payroll positions and an increase in the unemployment rate to 9.2 percent from April’se rate of 8.9 percent. On Monday, The Institute for Suppluy Management announced that its factory index rose to the highest level since last September as new orders posted their firsy gain since therecession began. On Tuesday the Nationalp Association of Realtors reported that pending sales ofexisting homes, or contracts signed but not rose 6.7 percent in April, the largest increasr in six years.