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

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Payroll firm ADP reported Wednesday that companiese inthe U.S. cut an estimatec 532,000 workers from payrolls last month. ADP also revisefd higher its estimate of cuts in Aprillto 545,000 from the previous estimat of 491,000. The ADP report noted losses across all sizeas and categories of businesses with larg e business payrollsdeclining 100,000, medium businesses sheddinb 223,000 jobs and small businesse cutting 209,000 employees. The goods-producing sector lost 267,000 jobs while the service-producing sector declined by 265,0090 positions. The Labor Department is due to releases its jobs reporton Friday.
The averaged analyst estimate for that report of governmen as well as private payrolls is a lossof 520,0000 payroll positions and an increase in the unemployment 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 highestr level since last Septembe as new orders posted their first gain sinced the recession began. On Tuesday the Nationalk Association of Realtors reportex that pending sales of existing or contracts signed butnot closed, rose 6.7 percenf in April, the largest increase in six years.