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

http://sjaroundthebay.org/?p=1685
Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimatesd 532,000 workers from payrolls last month. ADP also revisec higher its estimate of cuts in Aprilto 545,00o from the previous estimate of 491,000. The ADP reporf noted losses across all sizes and categories of businessed with large business payrollsdeclining 100,000, medium businesses shedding 223,000 jobs and smal businesses cutting 209,000 employees. The goods-producing sectof lost 267,000 jobs while the service-producing sector declineds by 265,000 positions. The Labor Department is due to release its jobs reporgon Friday.
The average analystg estimate for that report of government as well as private payrolla is a lossof 520,000 payroll positions and an increase in the unemployment rate to 9.2 percenrt from April’s rate of 8.9 percent. On The Institute for Supply Management announced that its factory indes rose to the highest level since last Septembedr as new orders posted their first gain since therecessioh began. On Tuesday the National Associatioh of Realtors reported that pendinh sales ofexisting homes, or contracts signed but not rose 6.7 percent in April, the largest increase in six years.