US companies cut 2.76 million jobs in May, less than one-third of what economists expected, ADP says

· US private payrolls sank by 2.76 million in May as coronavirus layoffs persisted, according to a Wednesday report by ADP.
· That's a sharp decline from April's record loss of 19.6 million jobs. It's also much lower than expectations — economists forecast a decline of 9 million jobs. 
· The sharpest declines in May were...