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

vuwodu.wordpress.com
Payroll firm ADP reported Wednesday that companie inthe U.S. cut an estimated 532,000p workers from payrolls last month. ADP also revisecd higher its estimate of cuts in Apriplto 545,000 from the previous estimates of 491,000. The ADP report notedf losses across all sizes and categoriew of businesses with large business payrollzdeclining 100,000, medium businesses shedding 223,0090 jobs and small businesses cutting 209,000 The goods-producing sector lost 267,000 jobs while the service-producing sectof declined by 265,000 positions. The Labor Departmentt is due to release its jobs reportyon Friday.
The average analyst estimatre for that report of government as well as privats payrolls is a lossof 520,00 payroll positions and an increase in the unemploymen t rate to 9.2 percent from April’s rate of 8.9 On Monday, The Institute for Supply Management announced that its factory index rose to the highest level sinc last September as new orders posted thei r first gain since the recession On Tuesday the National Association of Realtors reportexd that pending sales of existing homes, or contracts signeds but not closed, rose 6.7 percent in April, the largestr increase in six years.