The ADP Employment Report showed that there were 2.76 million job losses in the month of May. While this is still a huge amount of job losses, it was much better than the 8.75 million loss expected. How did ADP beat expectations by so much? It could be due to individuals coming back to work in the month of May. Looking at continuing claims, 4 million came back in just one week. Because continuing claims is backward looking by 2 weeks, we won’t know exactly how many came back in the month of May yet, but it’s possible that there were 7-8 million that came back, which would explain why there were only 2.76 million job losses instead of 8.75 million.