ADP Estimated private payrolls fell 532,000 in May.

• Unemployment rate rose in all the nation’s largest metropolitan areas in April, compared with figures from a year earlier.
• Labor department says all 372 metropolitan areas saw their jobless rates increase last week.
• April’s ADP figures were revised to show more job cuts than previously estimated, meaning May’s job losses were smaller, but highlighting ongoing deterioration in an economy that may have difficulty living up to expectations that it will resume economic growth in the 2nd half of the year.
• Highlights of key cities: 
• Seattle-Tacoma-Bellevue area saw its jobless rate drop from 8.7% in March to 8.0% in April.
• Elkhart-Goshen rate jumped to 17.8% from 12.7% YoY in April.  But down from 18.9% in March.
• Bend, Oregon rose to 15.6% up from 9% YoY
• North Carolina Hickory-Lenoir-Morganton saw unemployment rate rise to 14.9% from 8.8% last year.
• Yuma, Arizona saw a jobless rate of 20.3%. 
• Merced, CA 18.3%
• Yuba City, CA 18.2%

"The level of initial jobless claims of about 625,000 that we've seen does fit with this level of job losses, which has stabilized, albeit at still very weak levels.  While we've no doubt seen stabilization in the level of firings at still weak levels, hiring still remains sluggish, and until the economy starts generating 125,000-plus jobs monthly, the unemployment rate will continue higher." – Peter Boockvar (Equity strategist at Miller Tabak)

• While the service providing sector lost 265,000 jobs, the good-producing sector lost 267,000 jobs.
• Within the goods producing sector, employment in the manufacturing sector fell by 149,000 jobs.
• Job losses were led by medium and small-size businesses, which lost 223,000 jobs and 209,000 jobs.
• Large businesses jaw employment decline by 100,000 jobs.
• Small-size businesses have shed 2.125 million jobs since reaching peak employment in January 2008.

"Despite some recent indications that economic activity is stabilizing, employment, which usually trails overall economic activity, is likely to decline for at least several more months, although perhaps not as rapidly as during the last six months." – ADP

Source: Barron's, Seattle Times, Reuters & RTT News