June 3rd, 2009 10:40 AM by Ron Mastrodonato
U.S. private employers shed 532,000 jobs in May, fewer than the revised 545,000 jobs lost in April, a report by a private employment service said Wednesday.
The April figure was originally reported as a decline of 491,000.
The median forecast of economists surveyed by Reuters for the ADP Employer Services report, jointly developed with Macroeconomic Advisers LLC, was for 520,000 private-sector jobs lost in December.
The ADP job reading is seen as a predictor of the government's monthly payroll figure. The Labor Department will release its May employment report at 8:30 am Friday.