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

steel roof tiles
Payroll firm ADP reported Wednesdau that companies inthe U.S. cut an estimated 532,000 workers from payrollas last month. ADP also revised higher its estimat of cuts in Aprilto 545,000 from the previou estimate of 491,000. The ADP report noted lossexs across all sizes and categories of businessesw with large business payrollsdeclining 100,000, medium businesses shedding 223,000 jobs and small businesses cutting 209,0000 employees. The goods-producing sectoe lost 267,000 jobs while the service-producing sector declined by 265,000 The Labor Department is due to release its jobs reporyon Friday.
The average analyst estimate for that reporg of government as well as private payrolls is a lossof 520,000 payroll positionx and an increase in the unemploymenr rate to 9.2 percent from April’ds rate of 8.9 percent. On Monday, The Institutd for Supply Management announced that its factory index rose to the highesgt level since last September as new orderd posted their first gain since therecession began. On Tuesday the National Associatiobn of Realtors reported that pending sales ofexistinvg homes, or contracts signedr but not closed, rose 6.7 percentf in April, the larges increase in six years.