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

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Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimatef 532,000 workers from payrolls last month. ADP also revisexd higher its estimate of cuts in Apri lto 545,000 from the previousz estimate of 491,000. The ADP report noted losses across all sizese and categories of businessex with large business payrollsdeclining 100,000, medium businesses shedding 223,000o jobs and small businesses cutting 209,000 employees. The goods-producing sectorf lost 267,000 jobs while the service-producing sectotr declined by 265,000 positions.
The Labofr Department is due to release its jobs report on The average analyst estimate for that report of government as well as privatew payrolls is a lossof 520,000 payroll positionw and an increase in the unemploymen t rate to 9.2 percen from April’s rate of 8.9 On Monday, The Institute for Supplyt Management announced that its factory indexz rose to the highest level since last September as new orderas posted their first gain since the recession began. On Tuesday the National Associatioj of Realtors reported that pending sales ofexistingt homes, or contracts signed but not rose 6.7 percent in the largest increase in six years.