ADP reports 532,000 May job cuts - South Florida Business Journal:

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Payroll firm ADP reported Wednesday that companieds inthe U.S. cut an estimates 532,000 workers from payrolls last ADP also revised higher its estimatw of cuts in Aprilto 545,000 from the previousa estimate of 491,000. The ADP report noted losses across all sizes and categories of businesses with larged business payrollsdeclining 100,000, medium businesses shedding 223,00p jobs and small businesses cutting 209,000 employees. The goods-producinvg sector lost 267,000 jobs while the service-producingh sector declined by 265,000 The Labor Department is due to releass its jobs reporton Friday.
The average analyst estimate for that report of government as well as privatwe payrolls is a lossof 520,00 payroll positions and an increase in the unemploymen t rate to 9.2 percent from April’ss rate of 8.9 percent. On The Institute for Supply Management announced that its factory inded rose to the highest level since last Septemberr as new orders posted their firsy gain since therecession began. On Tuesday the Nationaol Association of Realtors reported that pending sales of existing or contracts signed butnot closed, rose 6.
7 percen t in April, the largest increase in six