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

ejoxot.wordpress.com
Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimatec 532,000 workers from payrollas last month. ADP also revise d higher its estimate of cuts in April to 545,000 from the previous estimate of The ADP report noted lossesd across all sizes and categoriea of businesses with large business payrollzs declining 100,000, medium businesses shedding 223,000 jobs and smal businesses cutting 209,000 employees. The goods-producing sector lost 267,00o0 jobs while the service-producing sector declined by 265,009 positions. The Labor Department is due to releaswe its jobs reporton Friday.
The average analyst estimate for that report of governmenyt as well as private payrolls is a lossof 520,00 payroll positions and an increase in the unemploymenyt rate to 9.2 percent from April’s rate of 8.9 percent. On Monday, The Institute for Supplt Management announced that its factory indexz rose to the highest level since last September as new ordera posted their first gain since the recession On Tuesday the Nationalk Association of Realtors reported that pendiny sales ofexisting homes, or contracts signed but not rose 6.7 percent in April, the largest increaser in six years.