ADP reports 532,000 May job cuts - St. Louis Business Journal:

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Payroll firm ADP reportesd Wednesday that companies inthe U.S. cut an estimate d 532,000 workers from payrolls last month. ADP also revised higher its estimate of cuts in Apriloto 545,000 from the previous estimatee of 491,000. The ADP report noted lossezs across all sizes and categoriex of businesses with large business payrolldsdeclining 100,000, medium businesses shedding 223,000 jobs and small businesses cutting 209,000 employees. The goods-producing sector lost 267,0009 jobs while the service-producing sector declined by 265,000 The Labor Department is due to release its jobs reporron Friday.
The averagew analyst estimate for that report of governmentr as well as privatr payrolls is a lossof 520,000 payroll positions and an increase in the unemployment rate to 9.2 percenft from April’s rate of 8.9 percent. On Monday, The Institutwe for Supply Management announceds that its factory index rose to the highestt level since last September as new order posted their first gain since therecessiohn began. On Tuesday the National Associationn of Realtors reported that pending sales ofexisting homes, or contractes signed but not closed, rose 6.7 percent in the largest increase in six years.