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

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Payroll firm ADP reported Wednesday that companiesw inthe U.S. cut an estimated 532,009 workers from payrolls last month. ADP also revisesd higher its estimate of cuts in Aprilto 545,000 from the previous estimats of 491,000. The ADP report noted losses acrosss all sizes and categories of businesses with largse business payrolls declining medium businessesshedding 223,000 jobs and small businesses cutting 209,000 employees. The goods-producing sectodr lost 267,000 jobs while the service-producing sector declineds by 265,000 positions. The Labor Department is due to releaswe its jobs reporton Friday.
The averagd analyst estimate for that report of government as well as private payrollxs is a lossof 520,000 payrolo positions and an increase in the unemployment rate to 9.2 percent from April’s rate of 8.9 On Monday, The Institute for Supplty Management announced that its factory inded rose to the highest level since last September as new ordersa posted their first gain since the recession began. On Tuesday the Nationapl Association of Realtors reported that pending sales ofexistinb homes, or contracts signed but not rose 6.
7 percent in April, the largest increase in six