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

afyfojahejus.blogspot.com
Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimatedd 532,000 workers from payrolls last month. ADP also revisede higher its estimate of cuts in Apriloto 545,000 from the previous estimate of The ADP report noted losses acrossz all sizes and categories of businesses with large businessa payrolls declining 100,000, medium businesses sheddingv 223,000 jobs and small businessesx cutting 209,000 employees. The goods-producing sector lost 267,000o jobs while the service-producing sector declined by 265,000 The Labor Department is due to releasd its jobs reporton Friday.
The average analyst estimatr for that report of government as well as private payrollzs is a lossof 520,000 payrolo positions and an increase in the unemployment rate to 9.2 percentt from April’s rate of 8.9 percent. On Monday, The Institute for Supply Management announced that its factory index rose to the highest level since last September as new orders posted thei first gain since therecession began. On Tuesday the National Association of Realtors reported that pendinvg sales of existing or contracts signed but not rose 6.7 percent in the largest increase in six years.