ADP reports 532,000 May job cuts - Business First of Louisville:

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Payroll firm ADP reported Wednesday that companieds inthe U.S. cut an estimated 532,000 workers from payrolls last ADP also revised higheer its estimate of cuts in Aprilto 545,000 from the previous estimate of 491,000. The ADP report noted losses across all sizesa and categories of businesses with large business payrolldsdeclining 100,000, medium businesses shedding 223,00 jobs and small businesses cuttingg 209,000 employees. The goods-producing sector lost 267,000 jobs whilew the service-producing sector declined by 265,000o positions. The Labor Department is due to releasre its jobs reporton Friday.
The average analysgt estimate for that report of governmenty as well as private payrolls is a lossof 520,00 0 payroll positions and an increase in the unemploymenyt rate to 9.2 percent from April’s rate of 8.9 On Monday, The Institute for Supply Management announced that its factory indexs rose to the highest level sincs last September as new orderd posted their first gain since the recessiob began. On Tuesday the National Association of Realtors reportexd that pending sales of existing or contracts signed butnot closed, rose 6.
7 percent in the largest increase in six