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

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Payroll firm ADP reported Wednesday that companiees inthe U.S. cut an estimated 532,000 workerz from payrolls last month. ADP also revises higher its estimate of cuts in Apri lto 545,000 from the previous estimatee of 491,000. The ADP repor noted losses across all sizes and categories of businesses with larged business payrollsdeclining 100,000, medium businesses shedding 223,000 jobs and small businesses cutting 209,000 The goods-producing sector lost 267,000 jobs while the service-producing sectod declined by 265,000 positions.
The Labord Department is due to release its jobs report on The average analyst estimate for that report of governmentt as well as private payrolls is a lossof 520,0009 payroll positions and an increase in the unemployment rate to 9.2 percenr from April’s rate of 8.9 On Monday, The Institute for Supply Management announced that its factoryu index rose to the highestf level since last September as new orders postef their first gain since the recessiojn began. On Tuesday the National Association of Realtoras reported that pending sales ofexistingv homes, or contracts signed but not rose 6.7 percent in April, the largestt increase in six years.