ADP reports 532,000 May job cuts - The Business Journal of Milwaukee:

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Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimated 532,000 workers from payrolls last month. ADP also revisecd higher its estimate of cuts in Aprilto 545,00o from the previous estimate of The ADP report notee losses across all sizes and categoriezs of businesses with larger business payrolls declining 100,000, medium businesses shedding 223,000 jobs and smal l businesses cutting 209,000 employees. The goods-producingg sector lost 267,000 jobs while the service-producing sectofr declined by 265,000 positions.
The Labor Department is due to release its jobs report on The average analyst estimate for that repor of government as well as private payrollsd is a lossof 520,000 payroll positions and an increasw in the unemployment rate to 9.2 percengt from April’s rate of 8.9 percent. On Monday, The Institute for Supplyu Management announced that its factory index rose to the highesft level since last Septembef as new orders postede their first gain since therecession began. On Tuesday the Nationakl Association of Realtors reported that pending sales ofexistinbg homes, or contracts signed but not closed, rose 6.7 percent in the largest increase in six years.