Wednesday, May 25, 2011

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

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Payroll firm ADP reported Wednesday that companies inthe U.S. cut an estimatedf 532,000 workers from payrolls last month. ADP also reviser higher its estimate of cuts in Aprilto 545,000 from the previous estimatr of 491,000. The ADP report noted lossesw across all sizes and categorie of businesses with large businesss payrollsdeclining 100,000, medium businesses sheddinbg 223,000 jobs and small businesses cutting 209,000 The goods-producing sector lost 267,000 jobs whilew the service-producing sector declined by 265,009 positions. The Labor Department is due to releas its jobs reporton Friday.
The averags analyst estimate for that reportt of government as well as privatde payrolls is a lossof 520,000 payroll positions and an increasew in the unemployment rate to 9.2 percent from April’e rate of 8.9 percent. On Monday, The Institute for Supplh Management announced that its factory index rose to the highestr level since last September as new order posted their first gain since therecession began. On Tuesdagy the National Association of Realtors reportedd that pending sales ofexistingf homes, or contracts signed but not rose 6.
7 percent in April, the largest increase in six

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