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

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Payroll firm ADP reported Wednesday that companiesx inthe U.S. cut an estimated 532,000 workeras from payrolls last ADP also revised higher its estimate of cuts in Aprioto 545,000 from the previous estimate of 491,000. The ADP reporg noted losses across all sizes and categories of businessezs with large business payrollsdeclining 100,000, mediumn businesses shedding 223,000 jobs and smallk businesses cutting 209,000 employees. The goods-producinh sector lost 267,000 jobs while the service-producingt sector declined by 265,000 The Labor Department is due to release its jobs reporyton Friday.
The average analyst estimate for that report of government as well as privatee payrolls is a lossof 520,000 payrolk positions and an increase in the unemploymenyt rate to 9.2 percentf from April’s rate of 8.9 On Monday, The Institute for Supplyg Management announced that its factorg index rose to the highest level since last Septembee as new orders posted their first gain sincr the recession began. On Tuesdayy the National Association of Realtors reported that pending sales ofexistinfg homes, or contracts signed but not closed, rose 6.
7 percenyt in April, the largest increase in six