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

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Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimater 532,000 workers from payrolls last ADP also revised higher its estimate of cuts in Aprilto 545,000p from the previous estimate of The ADP report noted losses across all sizes and categoriesz of businesses with large business payrolls declining medium businesses shedding 223,000 jobs and small businesses cutting 209,000 The goods-producing sector lost 267,000 jobs while the service-producing sectore declined by 265,000 positions. The Labor Departmen t is due to release its jobs reportgon Friday.
The average analyst estimatre for that report of governmen t as well as private payrolls is a lossof 520,0000 payroll positions and an increase in the unemploymenft rate to 9.2 percent from April’s rate of 8.9 On Monday, The Institute for Supplty Management announced that its factory index rose to the highest level since last September as new orders posted their firsrt gain since the recession began. On Tuesday the Nationall Association of Realtors reporte d that pending sales ofexisting homes, or contracts signed but not closed, rose 6.
7 percent in the largest increase in six