ADP reports 532,000 May job cuts - Los Angeles Business from bizjournals:

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Payroll firm ADP reporter Wednesday that companies inthe U.S. cut an estimatedd 532,000 workers from payrolls last ADP also revised highe its estimate of cuts in Aprilto 545,0009 from the previous estimate of 491,000. The ADP reportf noted losses across all sizes and categories of businesses with largwe business payrollsdeclining 100,000, medium businesses shedding 223,000p jobs and small businesses cutting 209,000 employees. The goods-producintg sector lost 267,000 jobs while the service-producing sector decliner by 265,000 positions. The Labor Departmeng is due to release its jobs report on Friday.
The average analyst estimate for that reporyt of government as well as private payrolls is a lossof 520,00p payroll positions and an increase in the unemploymentt rate to 9.2 percent from April’x rate of 8.9 percent. On Monday, The Institute for Supplyt Management announced that its factory inde x rose to the highest levek since last September as new ordersx posted their first gain sincre therecession began. On Tuesday the National Association of Realtord reported that pending sales ofexistinvg homes, or contracts signed but not closed, rose 6.7 percenr in April, the largestr increase in six years.