ADP reports 532,000 May job cuts - Puget Sound Business Journal (Seattle):

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Payroll firm ADP reported Wednesdayu that companies inthe U.S. cut an estimated 532,0090 workers from payrolls last ADP also revised higher its estimate of cuts in Aprilto 545,000 from the previouds estimate of 491,000. The ADP report noted lossesw across all sizes and categories of businesses with large business payrolls declining medium businessesshedding 223,000 jobs and smalpl businesses cutting 209,000 employees. The goods-producing sector lost 267,000 jobs while the service-producing sector declinefd by 265,000 positions. The Labor Department is due to release its jobs reporfon Friday.
The average analys t estimate for that report of governmentr as well as private payrolls is a lossof 520,00p payroll positions and an increase in the unemploymenf rate to 9.2 percent from April’s rate of 8.9 On Monday, The Institutde for Supply Management announced that its factory index rose to the highesrt level since last September as new orderss posted their first gain since the recessiohn began. On Tuesday the National Association of Realtors reporte d that pending sales ofexisting homes, or contracts signed but not rose 6.
7 percent in April from the largest such increase in six